Shale wildcatter and former Chesapeake CEO Aubrey McClendon is seeking another $2 billion to develop shale assets.
To date, McClendon has raised $1 million every hour since being fired from Chesapeake last year.
McClendon plans to raise the funds through Energy 11 LP, aFort Worth, Texas-based partnership.
Energy 11 plans to offer 95 million common units for $20 each and 5.26 million units for $19, according to a prospectus filed on Thursday.
The units will not trade on any public exchange.
All aspects of Energy 11’s business will be managed by McClendon’s American Energy Partners, according to the filing.
With the funds, Energy 11 plans to acquire interests in U.S. oil and natural gas fields.
The entity is known as a blind pool investment, a speculative vehicle with no assets or profits.
The offering will be terminated when all the units are sold or on September 30, 2016, whichever comes first.