A group of energy investors, financiers, a landman and dealmakers plan a $350 million blank-check IPO to build an E&P company.

EQV Ventures Acquisition Corp., the special-purpose acquisition corporation (SPAC), filed an S-1 with the Securities & Exchange Commission on June 7.

EQV’s business plan: “We believe that there is a unique and timely opportunity to achieve attractive returns by acquiring established E&P and related midstream assets within overlooked basins with significant proved developed producing [PDP] asset bases that have limited geologic and operational risks,” it reported in the filing.

It plans to raise $350 million, selling 35 million units at $10 each. The underwriter is BTIG LLC.

After the IPO, the Park City, Utah-headquartered SPAC will have 24 months to buy something or return the escrowed $350 million to unit-holders.

The SPAC is targeting oil and gas assets in the U.S. or Europe weighted to PDP reserves.

“We believe that aging private-equity funds in need of liquidity will drive significant E&P sales over the next several years …,” it reported.

Its data show “there is approximately $75 billion of private upstream assets held by aging private-equity funds that may require liquidity over the next five years,” it added.

The SPAC’s sponsor is Oklahoma City-based EQV Group, which has non-op interests in more than 1,500 wells in 10 states operated by 75 producers. The wells’ output is 38% liquids.

“Our mission is to provide unprecedented direct access to a diversified portfolio of [PDP] assets in a highly optimized, transparent and cost-effective structure,” EQV Group reported on its website.

Behind the SPAC

Management consists of Jerry Silvey, CEO, who is currently chairman and CEO of the sponsor, EQV Group. Prior, Silvey worked at Magnetar Capital in energy and infrastructure, and at RBC.

Tyson Taylor, president and CFO, is president of EQV Group and worked with Silvey at Magnetar. Prior, he was with Star Peak Corp. II that was a SPAC that bought Benson Hill Inc., and worked at another SPAC, Star Peak Energy Transition Corp., which bought Stem Inc.

Mickey Raney, COO, holds that position at EQV Group. He previously co-founded energy investor Impact Energy Partners and began his career in 1980, drilling and completing wells for Hunt Energy Corp. in Oklahoma and Wyoming.

Danny Murray, chief accounting officer, began his career in accounting at Chesapeake Energy Corp.

Grant Raney, executive vice president, is vice president of land at EQV Group and co-founded Impact Energy Partners. Prior, he worked in land for Chesapeake.

Andrew McKinley, chief strategy officer, is head of business development at EQV Group. Prior, he was with investment bankers William Blair & Co. and Credit Suisse.

Will Smith, chief investment officer and a partner in EQV Group, was with private-equity investor Tailwater Capital and Bison Water Midstream; alternative capital provider Crestline Investors Inc.; and in the global natural resources group at Goldman Sachs.

EQV Ventures board nominee Bryan Summers heads real estate private equity consulting firm Burtonwood Advisors and led the Utah Retirement System’s energy, mining, infrastructure and energy transition portfolios.

Andrew Blakeman, also a board nominee, is CFO of Stryde Ltd., a seismic-equipment manufacturer that was part of BP, where he spent most of his career.

Another nominee, Marcus Peperzak, is founder of Aurora Organic Dairy.

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