Utah-based energy finance executive Jerry Silvey is planning a second blank-check IPO, EQV Ventures Acquisition Corp. II, that may acquire assets in the energy industry, according to a Securities and Exchange Commission (SEC) filing.

The special purpose acquisition corporation’s (SPAC) sponsor is Oklahoma City-based EQV Group, whose EQV Operating owns interest in some 1,600 oil and gas wells in 10 states and 16 basins.

Data analysis firm Enverus reports the E&P produced 25,233 boe/d, 25% liquids, net in 2024.

Plans for EQV II are to issue 35 million units at $10 each, raising $350 million, according to the S-1 filed with the SEC.

The sole book-running manager is BTIG LLC, which managed the IPO of EQV Group’s first SPAC, Energy Ventures Acquisition Corp.

EQV Group IPO’ed that one last August, raising $350 million. The entity has not made an acquisition yet. The SEC allows a SPAC up to 24 months to make a deal or distribute the escrowed funds back to unitholders. At times, the SEC permits extensions, typically up to one additional year.

While EQV I is looking in the U.S. and Europe at potential acquisitions, EQV II intends to look at assets in the U.S. and across all international markets and expects “to focus our search on a broader set of potential business combination opportunities as compared to EQV I,” it reported in the S-1.

Also, while EQV I is focusing on an energy industry deal, neither it nor EQV II is limited to deals in only that space, it added.

EQV I reported in its S-1 filing in 2024, “We believe that aging private-equity funds in need of liquidity will drive significant E&P sales over the next several years.”

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.”

Management, board

The newest SPAC will share the current EQV I management team and board.

Jerry Silvey, EQV II CEO, 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, a SPAC that bought Benson Hill Inc. He also 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., now known as Expand Energy.

Grant Raney, executive vice president, is vice president of land at EQV Group and co-founded Impact Energy Partners with Raney. 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 II board nominee Jerome Silvey Jr. is vice chairman of real estate private equity firm Starwood Capital Group.

Bryan Summers, also a board nominee, 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 is chairman of Stryde Ltd. Group, a seismic-equipment manufacturer that was part of BP Plc, where he spent most of his career.

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

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