IPO Approval for JD Capital-invested Beiken Energy
According to CSRC’s recent announcement, Xinjiang Beiken Energy Engineering Co., Ltd. (Beiken Energy), once invested by JD Capital, has been approved for its IPO and will soon go public in the A-share market.
Beiken Energy was founded with its focus on offering drilling engineering technical services during oil and gas exploration and development, as well as other oilfield technical services such as well drilling, well cementation, drilling fluids, directional drilling and underbalanced drilling. Beiken Energy is a large independent domestic oilfield service provider that is able to provide integrated drilling engineering services. The company has service experiences and qualification to offer many oilfield engineering services for multiple oilfields at home, as well as the qualification to undertake oil technical service project contracting abroad.
Beiken Energy has mastered several core technologies in oilfield engineering technical services after years of technical inputs and innovation. By 2015, the company has one patent on invention, 26 patents on emerging technology, and the applications of other 12 patents are being accepted, examined or released online. The company and its subsidiaries have been authorized by Xinjiang Uygur Autonomous Region to establish Xinjiang Engineering Research Center for Special Drilling Technology and Xinjiang Engineering Research Center for Oil Reservoir Stimulation.
Furthermore, benefiting from abundant energy resources in neighboring Central Asia, Beiken Energy has been expanding its business to Kazakhstan and Iran. As “the Belt and Road Initiative” comes into being, Beiken Energy shall seize opportunities from neighboring markets by engaging in cooperation of oil and gas resources exploitation.
In 2012, JD Capital invested in Beiken Energy and held a 3.87% stake prior to its IPO.