DALLAS, Oct. 25, 2016 /PRNewswire/ — Energy Hunter Resources, Inc., an oil-focused energy company headquartered in Dallas, Texas (www.energyhunter.energy), announced today that it has filed a Form 1-A with the Securities and Exchange Commission (SEC) relating to the proposed initial public offering of its common stock under Regulation A. The offering statement filed today represents Energy Hunter’s initial public submission pursuant to the recently amended provisions of Regulation A and the Jumpstart Our Business Startups (JOBS) Act of 2012. The number of shares to be offered and the price range for the proposed offering have not yet been determined. Energy Hunter will apply to list its common stock on the NYSE MKT under the ticker symbol “EHX.”
FBR & Co. is acting as the lead underwriter for the offering.
Energy Hunter intends to use the proceeds from the offering to fund its 2016 and 2017 capital expenditures on existing assets, including the drilling, development, and completion of initial wells on its existing Karnes County, Texas lease acreage position. Additionally, the company may use a portion of the proceeds to acquire additional acreage leaseholds, acquire additional producing properties and associated leaseholds, or for general corporate purposes.
Energy Hunter Resources is an independent oil and gas company focused on the acquisition, drilling and production of oil and natural gas properties and prospects within the United States. The company was founded by its Chairman and Chief Executive Officer, Gary C. Evans, to take advantage of what it believes to be a unique and timely opportunity within the oil and gas industry due to the severe downturn in commodity prices which has occurred over the last several years. Energy Hunter’s core assets are located in the oil-prone window of the Eagle Ford Shale. Additionally, the Company is working on a number of new transactions located in the Permian Basin of West Texas and southeast New Mexico, some of which are under Letter(s) of Intent. The company seeks to capitalize on the current dislocation in the industry through the creation of shareholder value from a program of acquisitions and low-risk development and exploration opportunities utilizing horizontal drilling and fracture stimulation technology. Gary C. Evans, along with members of the Company’s executive management team, have both a proven track record and operational experience in the Company’s core focus areas as evidenced by the development and value creation at multiple prior public companies started and managed by him. The team’s deep knowledge of these resource plays and operational expertise provides Energy Hunter with a distinct competitive advantage.
The amendments to Regulation A known as “Regulation A+” were adopted by the SEC pursuant to Title IV of the JOBS Act and became effective in June 2015. Regulation A+ is designed to allow early stage growth companies to raise up to $50 million in a public offering through a process that provides streamlined and lower-cost access to the capital markets for the issuer and gives the investor the opportunity to participate in the IPO for these potentially high growth companies.
About Energy Hunter Resources, Inc.
Energy Hunter Resources, Inc. is an independent oil company headquartered in Dallas, Texas with a mission to own and operate properties within some of the most prolific resource plays in the United States. Initially focusing on the Eagle Ford Shale and Permian Basin, Energy Hunter aims to maximize stockholder value through a balanced program of acquisitions and low-risk development and exploitation. Energy Hunter intends to leverage its management team’s long history in the oil and gas industry and operational expertise to identify and acquire ownership interests in producing, proved developed, proved undeveloped, and probable properties with a particular emphasis on distressed assets and smaller acquisition opportunities not generally known in the marketplace.