The Intrepid SPAC reports its area of interest is “particularly in the energy, natural resources, and environmental and water infrastructure industries in North America.” (Source: Shutterstock.com)
Oil and gas executives plan to IPO Denver-based Intrepid Acquisition Corp. I, raising $200 million and listing as IACIU on NASDAQ, according to its S-1.
The Intrepid SPAC (special purpose acquisition corporation) reports its area of interest is “particularly in the energy, natural resources, and environmental and water infrastructure industries in North America.”
Within this, its interest is in “giving extra attention to targets that we believe can supply the critical materials and energy the world needs, while also employing practices and technologies designed to limit carbon intensity and greenhouse gas emissions, reduce or repurpose waste streams, and/or enhance global access to clean water and food.”
Book-running managers are Cowen Inc. and Intrepid Partners.
The SPAC’s sponsor, Intrepid Acquisition Sponsor LLC, is a subsidiary of Intrepid Potash Inc. (NYSE: IPI). A minority interest is held by CW Interests, which is owned by James C. “Rad” Weaver’s San Antonio-based Three Two Seven Family Management LLC.
CW Interests led the out-of-court restructuring and reboot of Jonah Energy LLC.
Executives and board members behind the SPAC are:
- Robert P. Jornayvaz III, chairman and CEO and CEO of Intrepid Potash. He also heads Intrepid Oil and Gas LLC and Intrepid Production Corp., which focuses on the Paradox and Green River basins and the Eagle Ford.
- President and COO Brian Stone is president of Intrepid Potash and was COO of international E&P Hupecol Operating Co. LLC, focused on South America and Europe. He was also with Hupecol affiliate Dan A. Hughes Co. and was a managing director of the Huber Energy Services division of J.M. Huber Corp.
- General counsel Kyle R. Smith held that position for Echo Energy and was assistant general counsel, operations, for Continental Resources Inc.
- On the board, Rad Weaver was CEO of McCombs Partners, a division of McCombs Enterprises, the family office of Red McCombs. He’s also on the board of Jonah Energy and chairman of The University Lands Advisory Board and a member of The University of Texas/Texas A&M Investment Management Co. (UTIMCO) board.
- Bill Von Gonten Jr. is president of W.D. Von Gonten & Co. and CEO of W.D. Von Gonten Laboratories LLC. He’s worked on the Permian, Eagle Ford, Bakken, Denver-Julesburg Basin and the Marcellus as well as the Vaca Muerta in Argentina and various Middle Eastern fields.
- Irene G. Lofland held executive positions at DCP Midstream.
- Dan C. Perry is president of Agave Mineral Management Inc. and is mineral manager for family entities that hold 150,000 acres of minerals.
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