Stallion Oilfield Services, a Houston-based company that provides equipment rental and other products and services to the oil and gas industries, last week announced plans to go public in an offering that could raise as much as $287 million. In a preliminary prospectus filed with the Securities and Exchange Commission, Stallion said it plans to trade on the NASDAQ under the proposed ticker symbol “SOFS”.
Stallion grossed revenue of about $131 million in 2005.
Proceeds from the offering will go to repay $82.5 million of term loans under Stallion’s credit facility as well as other corporate purposes such as making acquisitions.Stallion, founded in 2002, has become a major player in oilfield services. It has acquired companies specializing in oilfield construction, trucking, solids controls, housing and various other services. It rents forklifts, aerial work platforms, backhoes, light towers, pumps, generators, compressors and other equipment.