EagleRock Land submitted paperwork Thursday to become a publicly traded company, marking another energy firm’s attempt to enter the stock market during challenging times for the sector.
The company generates income by collecting royalty payments and fees from oil and natural gas operations conducted on properties under its control.
This public offering announcement arrives during a period when energy companies have largely avoided going public due to years of investor hesitancy toward the sector. However, recent spikes in oil prices, fueled by conflicts in the Middle East and potential disruptions in the Strait of Hormuz shipping lanes, appear to be rekindling investor appetite for energy investments.
Major financial institutions including Goldman Sachs, Barclays, J.P. Morgan, Piper Sandler and Raymond James will serve as the lead underwriters managing the stock offering.
The company plans to trade its shares on the New York Stock Exchange using the ticker symbol “EROK” once the offering is completed.
