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Published on Oct 15, 2016
This
week saw two initial public offerings in the energy sector at the
Nasdaq. Extraction Oil & Gas ( ) was priced at the high end of its
range and attracted buyers, while Mammoth Energy (TUSK) priced at the
low end and struggled on its first day of trading. But the uneven
performance won't deter other companies from going public, according to
Tamar Essner, energy analyst with Nasdaq Advisory Services. She says
there is a backlog of companies waiting to test the public markets, and
will likely to do so next year, as long as oil prices remain stable.
Essner believes oil prices will remain in the $50 range, and will not
retest lows.
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