The company did not specify the amount of shares it was floating and the intended price range.
Fort Worth-headquartered Athlon will use the proceeds to fund its drilling programme, repay debts and for other general corporate purposes including possible acquisitions.
Apollo invested in Athlon from its Investment Fund VII in August 2010. The company has an “acquire and exploit” strategy whereby it acquires and develops producing properties in proven basins in the US.
Last month another companies backed by Apollo, Sprouts Farmers Markets, filed to raise $300m in an IPO two years after being bought by the private equity major.
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