Today, NYSE Arcasm welcomed Constellation Energy Partners LLC (NYSE Arca: CEP ) as its 2nd IPO since launching its new listing platform for emerging issuers early this year.
Constellation Energy Partners, which raised $94.5 million in its NYSE Arca IPO, is the 20th exclusive listing on NYSE Arca year-to-date. Constellation Energy Partners priced 4.5 million of its common units representing Class B limited liability company interests at the top end of the range, $21 per common unit. Completion of the offering is expected to occur on
Constellation Energy Partners is a limited liability company that was formed in February 2005 by Constellation Energy Group, Inc. (NYSE: CEG ). It is an energy company focused on the acquisition, development and exploitation of oil and natural gas properties, as well as related midstream assets. Its assets consist primarily of producing and non-producing coalbed methane natural gas reserves located in the Robinson’s Bend Field in the Black Warrior Basin of Alabama. Constellation Energy Partners joins the NYSE Group as the 21st energy company listing in 2006. The total market capitalization for all NYSE Group energy listings to more than $3.1 trillion.
Based on market capitalization, more than 96% of the qualified domestic energy-related stocks are currently listed on NYSE Group, where energy company listings represent a total market capitalization of more than $3.1 trillion.
Energy company listings on NYSE Group in 2006 include Helix Energy Solutions (NYSE: HLX) with a market cap of $3.04 billion; Penn West Energy Trust (NYSE: PWE) with a market cap of $6.1 billion; CNX Gas Corporation (NYSE: CXG ) with a market cap of $4.1 billion and VAALCO Energy, Inc.