Atlas Energy Solutions, Inc.

General Information

We are a leading provider of proppant (frac sand) and logistics services to the oil and natural gas industry within the Permian Basin of West Texas and New Mexico, the most active oil and natural gas basin in North America. We believe we have developed a strong brand recognition for reliability and strong customer service that has enabled us to increase the volume of proppant sold every year since the founding of the company in 2017.

We control 14,575 acres of large open-dune reserves and resources, which represent more than 70% of the total giant open dune acreage in the Winkler Sand Trend available for sand mining. 

We are planning to build the Dune Express, the first long-haul overland conveyor system to deliver proppant. The 42-mile Dune Express will cost about $400 million to build. Atlas Energy Solutions plans to use part of the IPO’s net proceeds to fund the construction of the Dune Express. The company expects to break ground on the project in the first half of 2023. Commercial service is likely to begin by the end of 2024.

We were founded in 2017 by Ben (“Bud”) Brigham, our executive chairman and CEO. In 2011, Brigham Exploration Company, a pioneer in the use of 3-D seismic and horizontal drilling and completions techniques within the oil-rich Bakken Shale, was acquired by Statoil ASA for $4.7 billion. Brigham Exploration completed an IPO in 1997

(Note: Atlas Energy Solutions, Inc. priced its IPO on March 8, 2023, at $18 – $2 below the bottom of its $20-to-$23 price range – on the full 18.0 million shares in the prospectus – to raise $324 million. Atlas Energy Solutions filed an S-1 on Jan. 31, 2023. The company filed confidential IPO documents with the SEC on Feb. 14, 2022.)

Industry: Frac Sand Mining & Transport
Employees: 261
Founded: 2017
Contact Information
Address 5918 W. Courtyard Drive, Suite 500 Austin, Texas 78730
Phone Number (512) 220-1200
Web Address
View Prospectus: Atlas Energy Solutions, Inc.
Financial Information
Market Cap $1800.0mil
Revenues $482.72 mil (last 12 months)
Net Income $217.01 mil (last 12 months)
IPO Profile
Symbol AESI
Exchange NYSE
Shares (millions): 18.0
Price range $18.00 - $18.00
Est. $ Volume $324.0 mil
Manager / Joint Managers Goldman Sachs/ BofA Securities/ Piper Sandler/ RBC Capital Markets/ Barclays/ Citigroup
CO-Managers Raymond James/ Johnson Rice & Co./ Stephens Inc./ Capital One Securities/ Pickering Energy Partners/ Drexel Hamilton
Expected To Trade: 3/9/2023
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change