WildHorse Resource Development Corp. launches IPO

An Eagle Ford drilling rig in South Texas. (file photo)
An Eagle Ford drilling rig in South Texas. (file photo)

WildHorse Resource Development Corp., a Houston-based independent oil and natural gas company, has launched an initial public offering, the company announced Thursday.

The shares are trading on the New York Stock Exchange under the symbol “WRD.” WildHorse is offering 27.5 million shares of common stock and underwriters get a 30-day option to purchase more than 4.1 million additional shares.

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Book-running managers for the offering are Barclays, Bank of America Merrill Lynch, BMO Capital Markets, Citigroup and Wells Fargo Securities, according to a company statement.

WildHorse develops properties for oil and natural gas production across the Eagle Ford Shale region of Texas and the Cotton Valley region of northern Louisiana.