Althon Energy Inc announced that they have file for an initial public offering (IPO) valued at US$345 million. Alton Energy Inc, an oil and gas company said that they will trade on the NYSE under the symbol "ATHL". The company said that that public offering will help Althon reduce its debt and will provide the gas and oil trader with additional funding to use in future drilling programs and in future acquisitions. Althon Energy Inc operates in the Permian Basin and owns approximately 124,925 acres within the area. Althon reported a US$53 million annual income for 2012.  

Director of the Maguire Energy Institute at Southern Methodist University, Bud Weinstein said, "Strike while the iron is hot. Everybody wants to get in the oil and gas business these days. I haven't seen activity like this since the 1970s but then again we haven't had a boom like this since the 1970s. With the boom that's occurring in the Permian basin, most of the production coming from the Permian, this is probably a good time to go the IPO route."