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Industry Brief

EP Energy Corp.has completed an initial public offering of 35.2 million shares of common stock at price of $20.00/share after its launch on the New York Stock Exchange (see Shale Daily, Jan. 17). The former El Paso Corp. exploration unit began trading on Jan. 17 (EPE). Underwriters have a month-long option to purchase an additional 5.28 million shares at the public offering price. At midday Thursday EPE was trading at around $18.60. Permian Basin explorer RSP Permian Inc., which launched with EPE for a similar price, raised close to $400 million; it recently was trading above $20.00. Appalachian explorer Rice Energy Inc. is set to launch Friday at similar terms (see Shale Daily, Jan. 13).

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