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Androvett Blog

by Dave Moore at 12:00:00 am

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The successful public offering of Fort Worth-based Athlon Energy Inc. (NYSE: ATHL) demonstrates the importance of attracting savvy investors early on, Dallas attorney Phil Whitcomb recently told the Dallas Business Journal. Upon review of the company’s filings, Whitcomb noted to the publication that Athlon has drawn the backing of noted Apollo Global Management, which has a strong track record of success.

DBJ reporter Nicholas Sakelaris notes:

Whitcomb studied the company’s revenues, assets and business plan and said Athlon is poised to do well through 2013. The so-called conventional wells are cheaper to drill than the unconventional horizontal wells that have become the rage in recent years. Athlon has identified 3,857 potential vertical drilling locations and another 931 locations that could be targeted with horizontal drilling and hydraulic fracturing.

Whitcomb, who specializes in corporate securities and private equity in the Dallas office of Shackelford, Melton & McKinley, told Sakelaris: “They’re going to generate a good amount of cash. They’ve got a great underwriting certificate.”

While predicting how an IPO will do can be difficult (ask anyone at Facebook), Athlon’s successful launch wasn’t just a roll of the dice.