
Leuschen is a co-founder and senior managing director of Riverstone Holdings, which the S-1 states is not involved in the latest SPAC. (Source: Shutterstock)
Serial energy-focused SPAC creator David Leuschen has filed an S-1 to IPO an eighth special purpose acquisition corporation, CH4 Natural Solutions Acquisition.
Citigroup is the sole book-running manager. Expectations are to raise $250 million. CH4 units are to trade as MTNE.U on the New York Stock Exchange, according to the filing with the Securities and Exchange Commission (SEC).
Leuschen is a co-founder and senior managing director of Riverstone Holdings, which the S-1 states is not involved in the latest SPAC.
He reported in the S-1 that CH4 Natural Solutions intends to buy and build a company that would “benefit from accelerated methane-mitigation initiatives at scale.”
In addition to Leuschen, the SPAC’s sponsors consist of Wyoming-based Impact Ag Partners and a New York-based blogger, Lauren Singer, 33, whose “Trash is for Tossers” documents her zero-waste lifestyle.
Singer’s venture fund, Overview Capital, invests in businesses focused on reducing methane and other emissions, according to the S-1.
The first seven SPACs
Past SPACs Leuschen led include former EOG Resources chief Mark Papa’s Silver Run Acquisition Corp., which bought Delaware Basin-focused producer Centennial Resources from private-equity firm NGP Energy Capital Management and is now part of Permian Resources.
The second Silver Run SPAC bought Midcontinent-focused Alta Mesa Holdings, which was dissolved post-Chapter 11 bankruptcy.
Leuschen and others involved in the deal reached a settlement in a class-action lawsuit involving the deal on Jan. 6, according to the newest SPAC’s S-1.
Leuschen then formed the non-SPAC blank-check Vista Oil & Gas, which bought Argentina-focused Pampa Energía and Pluspetrol Resources. Vista Energy is an operator in the Vaca Muerta oil and gas play.
A third SPAC, Silver Run III, became Decarbonization Plus Acquisition and bought Hyzon Motors, a hydrogen-powered vehicle manufacturer. An ongoing lawsuit claims the SPAC made “misleading statements regarding that merger,” the S-1 states.
Leuschen’s fourth, Decarbonization Plus II, bought Tritium Holdings, a manufacturer of direct-current fast chargers for EVs. Tritium is in the process of being folded.
Another, Decarbonization Plus III, bought Solid Power, a producer of solid-state batteries for electric vehicles. Leuschen and others are defendants in a lawsuit that alleges “breach of fiduciary duty and unjust enrichment,” according to the S-1.
Decarbonization Plus IV bought Hammerhead Resources, a Montney Shale-focused E&P that was sold to fellow Canadian producer Crescent Point Energy, now known as Veren Inc., in 2023.
The seventh SPAC, Agriculture & Natural Solutions Acquisition, bought Australian Food & Agriculture Co.
Recommended Reading
Voyager Midstream Closes on Panola Pipeline Interest Deal
2025-03-19 - Pearl Energy Investments portfolio company Voyager Midstream Holdings has closed on its deal with Phillips 66 for its non-op interest in the Panola Pipeline.
Elliott Demands Phillips 66 Sell or Spin Off Midstream Biz for $40B+
2025-02-12 - Activist investor Elliott Capital Management disclosed Feb. 11 it has built a $2.5 billion position in Phillips 66 and issued a series of initiatives, including the sale or spinning off of the company’s midstream assets.
KNOT Offshore Partners Conducts Shuttle Tanker Asset Swap
2025-03-02 - KNOT Offshore Partners LP subsidiary KNOT Shuttle Tanker AS is trading shuttle tanker assets with Knutsen NYK Offshore Tankers AS, the company said Feb. 27.
Howard Energy Partners Closes on Deal to Buy Midship Interests
2025-02-13 - The Midship Pipeline takes natural gas from the SCOOP/STACK plays to the Gulf Coast to feed demand in the Southeast.
ConocoPhillips to Sell Interests in GoM Assets to Shell for $735MM
2025-02-21 - ConocoPhillips is selling to Shell its interests in the offshore Ursa and Europa fields in the Gulf of Mexico for $735 million.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.