Fort Worth-based Athlon Energy, which went public Aug. 2, said third-quarter revenue rose 82 percent from a year ago to $65.2 million, mostly on higher volumes. It's the producer's first earnings report since its IPO. Net income was $23.7 million, down more than half on sharply lower gains on derivatives. The company said that with its IPO "we now have the financial capacity to execute our drilling plan for the foreseeable future." That includes operating seven rigs drilling vertical wells the rest of the year and adding a horizontal rig later this month. Athlon completed 44 vertical wells in the second quarter, three more than planned. The company was formed about three years ago with backing from Apollo Global Management and is headed by former Encore Acquisition executive Bob Reeves.
-- Jim fuquay