The company is focused solely on the Permian basin where it controls almost 100,000 acres, primarily in Howard, Midland and Glasscock counties in Texas.
Proceeds will be used to pay down debt and for general operations, including possible acquisitions, the company said in its filing.
Athlon was started in August 2010 by members of the management team of Encore Acquisition after Encore was bought out by Denbury Resources.
