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Athlon Energy stocks soared

05 Aug 2013
Athlon Energy stock soared on its first day of trading, as the oil and gas company gained 38% to close at $27.56.

Fort Worth-based Athlon, which operates more than 200 wells in the Permian Basin in West Texas, raised $315.8 million by selling 15.8 million shares at $20 each.

The company says it plans to use the proceeds to pay their own debt, provide cash for use in its drilling programme and general corporate purposes.

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