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Another Blank Check E&P Files $500 Million IPO

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Vantage Energy Acquisition Corp, a blank check company formed by previous executives from Vantage Energy (sold to Rice Energy earlier this year), seeks to raise $460 million in a S1 (IPO filings). 

The company is backed by Natural Gas Partners. 

This echoes the path that Silver Run took in 2016 before being acquired by Centennial.

According to the filing, the company said, "We will seek to capitalize on the 35 years of experience in the oil and gas business of our Chief Executive Officer, Roger Biemans. Mr. Biemans was most recently Chairman and CEO of Vantage Energy LLC, a private company he founded in 2006, before selling to Rice Energy Inc. in a $2.7 billion transaction in October 2016.

Prior to forming Vantage Energy, he was President of EnCana Oil & Gas (USA) Inc., where he led EnCana Corp’s USA growth platform from 2000 through 2006, and from 1996 through 2000, served as Vice-President & Team Lead for AEC Oil & Gas (EnCana Corp) in Alberta, Canada. Mr. Biemans holds a BSc in Mechanical Engineering from the University of Calgary.

The sponsor is a portfolio company of NGP XI, and is owned by NGP XI and members of our management team who are not employees of NGP. NGP has considerable experience investing in the energy industry. Since NGP’s founding in 1988 by Kenneth A. Hersh, David R. Albin and John S. Foster, NGP Funds have committed approximately $17.0 billion to more than 200 portfolio companies across eleven private funds.