(Updates with debut price)

** Oilfield services firm Flowco Holdings surges in NYSE debut on Thurs after first notable U.S. IPO of 2025 priced above expectations

** FLOC shares open at $29, ~21% above IPO price

** Houston, Texas-based co late Weds it sold 17.8 mln shares at $24, $1 above $21-$23 marketed range, for ~$427 mln raise

** Flowco, which achieves of roughly $2.6 bln,

plans to use bulk of net IPO proceeds to reduce debt under existing credit agreement

** Blackrock and American Century Investment Management indicated to buy up to $125 mln of the IPO, or ~30% of the deal, per the

**

** JP Morgan, Jefferies, Piper Sandler and Evercore acting as lead bookrunners for the offering

** IPO research firm Renaissance Capital said on its website that Flowco is the first sizable listing of 2025, and is also the largest energy listing by deal size since May 2019 (Rattler Midstream; $665 mln)

** But that could change soon, as liquefied natural gas $(LNG)$ producer Venture Global more than $2 bln raise in its NYSE IPO slated for next week

(Lance Tupper is a Reuters market analyst. The views expressed are his own) ((lance.tupper@tr.com 1-646-279-6380))