Permian Landowner EagleRock Seeks to Raise $346 Million in IPO

EagleRock Land LLC, a Permian Basin landowner and management company, is seeking to raise as much as $346 million in a US initial public offering.

The Houston-based company plans to market 17.3 million shares for $17 to $20 each, according to a filing Monday with the US Securities and Exchange Commission. At the top of that range, EagleRock would have a market value of $2.6 billion based on the outstanding shares listed in its filing.

EagleRock leases its land for drilling and production to oil and gas companies like Chevron Corp., ExxonMobil Corp., ConocoPhillips and Diamondback Energy ...