- Brookfield Asset Management (NYSE:BAM) is considering an IPO of natural gas producer Ember Resources next year, likely seeking a valuation of more than C$1B ($762M), Bloomberg reports
- The companies are considering the IPO as some signs of life return to the embattled energy sector; for example, Extraction Oil & Gas shares have climbed more than 13% since making its trading debut last week.
- Ember’s core assets are in Alberta’s Horseshoe Canyon coalbed methane fairway, with 2.2M net acres of land inventory, and the company’s production is ~300M cf/day of natural gas extracted from coal; BAM led a group in acquiring Ember in 2011 for ~C$106M.