Sentinel Energy Services, a blank check company led by former Schlumberger executives to acquire an energy company, filed on Friday with the SEC to raise up to $300 million in an initial public offering.
The company intends to acquire an underperforming energy services business and seeks to capitalize on management's extensive network connections and experience. The company will be headed by Chairman Andrew Gould, who previously served as CEO of Schlumberger. Krishna Shivram will serve as CEO, who also spent 25 years working at Schlumberger from 1988 until 2013, and has most recently served as interim CEO of Weatherford International.
The Houston, TX-based company was founded in 2017 and plans to list on the Nasdaq under the symbol STNL. Sentinel Energy Services filed confidentially on July 3, 2017. Citi and Goldman Sachs are the joint bookrunners on the deal. No pricing terms were disclosed.
