Kekst CNC handled Landbridge’s initial public offering as its shares rose as much as 23.5 percent on their first day of trading on June 28. Shares opened at $19.

Landbridge owns 220K acres across Texas and New Mexico in the oil and natural gas-rich Permian Basin region.

Occidential Petroleum, ConocoPhillips, EOG Resources, and Mewbourne Oil are among the energy giants that are drilling on Landbridge’s properties.

Five Point Energy, a private equity firm that invests in energy, environmental water management and sustainable infrastructure companies within the Permian Basin, founded Landbridge in 2021.

Landbridge’s shares are currently trading at $23.94.

Kekst CNC’s Landbridge team includes Daniel Yunger, Jon Morgan, Nathaniel Shahan and Zach Blumberg.