Natural gas interest manager Bounty Minerals files for $100M IPO (Cryptocurrency:BNTY-USD)

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Natural gas interests manager Bounty Minerals (BNTY) has filed for a $100M initial public offering.

The company didn’t disclose terms in its filing, but indicated in an attached filing fee schedule that it was looking to raise up to $100M, a number that is likely a placeholder and subject to change.

Bounty Minerals hopes to list its shares on NYSE under the symbol BNTY. Bookrunners include Raymond James, Stifel and Stephens.

The company was incorporated in June 2022. Financial results for its predecessor, Bounty Minerals LLC, showed the company reported net income of $45M on revenue of $74M for 2021.

Texas-based Bounty Minerals owns, acquires and manages mineral interests, primarily related to natural gas produced from shale formations in the Appalachian Basin.

The IPO market has seen a recent uptick in filings by natural gas and oil-related companies amid escalating energy prices and a renewed interest in fossil fuel production. Earlier this week, Permex Petroleum filed for a NYSE uplisting and $11M offering.