Reaching for the Bottom

Reach Energy would be the fourth SPAC or Special-Purpose Acquisition Company to be listed and the biggest in terms of funds raised. They aim to quickly put their money to use by  buying mature oilfields or what they call "brownfields" which big oil firms may find no longer viable to hold on to. Expansion plans further out would see funds allocated to exploration and production assets. We explore how Reach would deliver growth with mature brownfields and how a relatively small player like them navigates the oil and gas space. We also discuss how SC-friendly management is in the light of the recent SPAC guidelines change.