Friday, April 13, 2012

2 Promising Oil Equipment IPOs

On Wednesday night, 2 oil equipment companies priced IPOs. While solid companies in a booming oil and gas shale sector, neither has been hyped a lot by the IPO buzz network.

For one, MRC Global (MRC) priced at the low end of the range at $21. Also on Wednesday, the Natural Gas spot price closed below $2 for the first time in 10 years. This is clearly not the ideal time to price an IPO for the energy sector.

The other stock is Forum Energy (FET) that provides products and services for the oil sector. Neither stock has gotten much fanfare. For example, both companies have under 30 email alerts followers on Seeking Alpha, while Splunk (SPLK) already has 52 followers, yet it won't go public until next week.

Read the full article at Seeking Alpha.


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