Houston-based private-equity firm Quantum Energy Partners has partnered with Denver-based E&P legends Don Wolf and Alex Cranberg of Aspect Energy in successfully raising a $1 billion acquisition fund, Quantum Resources LP. It is the largest fund raised to date for Quantum and possibly is one of the largest in E&P history devoted to a single E&P company. Wolf is the chief executive and Logan Magruder, formerly with Berry Petroleum, is the president and chief operating officer. They are joined by Bob Howard, formerly with Bill Barrett Corp., as chief financial officer; Russell des Cognets, previously with Burlington Resources, as vice president of engineering and operations; and Lance Lauck, formerly with Anadarko Petroleum Corp., as vice president of acquisitions. "This is something we've been thinking about for a couple of years now," says Wil VanLoh, Quantum Energy Partners managing partner. "In the past, we've put together companies that focused on making acquisitions in the sub-$100-million size, and it's worked out great. "But we've realized that, for select management teams, there are bigger deals out there that have good remaining exploitation opportunities and that are in areas less visited by the serial public acquirers." For more on this, see the July issue of Oil and Gas Investor. For a subscription, call 713-260-6441.

Comments