Quantum Energy Partners

Quantum Energy Partners Completes $2.7 Billion Sale of Rockcliff Energy to TG Natural Resources

Retrieved on:

Friday, December 29, 2023

Rockcliff, Quantum Energy Partners, Sale

HOUSTON, Dec. 29, 2023 (GLOBE NEWSWIRE) -- Quantum Capital Group (“Quantum”) today announced the completion of its previously announced sale of Rockcliff Energy II LLC (“Rockcliff”) to TG Natural Resources LLC (“TGNR”).

Key Points:

HOUSTON, Dec. 29, 2023 (GLOBE NEWSWIRE) -- Quantum Capital Group (“Quantum”) today announced the completion of its previously announced sale of Rockcliff Energy II LLC (“Rockcliff”) to TG Natural Resources LLC (“TGNR”).
Rockcliff is a portfolio company of Quantum Energy Partners, Quantum’s private equity division.

Rockcliff Energy to be Acquired by TG Natural Resources

Retrieved on:

Saturday, December 16, 2023

HOUSTON, Dec. 15, 2023 (GLOBE NEWSWIRE) -- Rockcliff Energy II LLC, (“Rockcliff”), a portfolio company of Quantum Energy Partners (“Quantum”), today announced the entry into a definitive agreement with TG Natural Resources LLC (“TGNR”), in which TGNR will acquire 100% of the membership interests in Rockcliff for US$ 2.7 billion, prior to customary adjustments (the “Transaction”).

Key Points:

HOUSTON, Dec. 15, 2023 (GLOBE NEWSWIRE) -- Rockcliff Energy II LLC, (“Rockcliff”), a portfolio company of Quantum Energy Partners (“Quantum”), today announced the entry into a definitive agreement with TG Natural Resources LLC (“TGNR”), in which TGNR will acquire 100% of the membership interests in Rockcliff for US$ 2.7 billion, prior to customary adjustments (the “Transaction”).
Rockcliff is a premier upstream natural gas company focused on developing the East Texas Haynesville shale.
With this acquisition, TG Natural Resources is committed to leadership in the Haynesville Play, one of the world’s most important sources of clean natural gas.
J.P. Morgan Securities served as financial advisors to Rockcliff and Vinson & Elkins LLP served as legal counsel to Rockcliff.

Pickering Energy Partners Advises ProFrac’s Audit Committee on Terms of Preferred Equity Investment into the Company

Retrieved on:

Tuesday, October 24, 2023

Professional Services, Other Energy, Oil, Gas, Energy, Finance, Consulting, ACDC, Quantum Energy Partners, Audit committee, Security (finance)

Pickering Energy Partners (“PEP”) advised the Audit Committee of ProFrac Holding Corp.’s (NASDAQ: ACDC) (“ProFrac” or the “Company”) Board of Directors on the terms of the $50 million in preferred equity investment (the “Preferred Equity”) by ProFrac’s largest shareholder, the Wilks Family.

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Pickering Energy Partners (“PEP”) advised the Audit Committee of ProFrac Holding Corp.’s (NASDAQ: ACDC) (“ProFrac” or the “Company”) Board of Directors on the terms of the $50 million in preferred equity investment (the “Preferred Equity”) by ProFrac’s largest shareholder, the Wilks Family.
The Preferred Equity was issued as perpetual preferred equity securities convertible into ProFrac Class A common stock at a conversion price of $20.00 per share.
In addition, the Preferred Equity accrues interest at an 8% annualized rate, payable quarterly and payment-in-kind (“PIK”).
The investment optimizes the capital structure of ProFrac as it looks to maximize the value in Alpine Silica, the industry’s largest multi-basin proppant producer.

FTC Approves Final Order to Prevent Interlocking Directorate Arrangement, Anticompetitive Information Exchange in EQT, Quantum Energy Deal

Retrieved on:

Monday, October 16, 2023

Federal Trade Commission, FTC, Acquisition, Industry, Commission, Clayton Antitrust Act of 1914, Compliance, Blog, Quantum, Natural gas, Quantum Energy Partners, News, EQT, Social media, Sale

Quantum and EQT are direct competitors in the production and sale of natural gas in the Appalachian Basin, the largest natural gas-producing region in the United States.

Key Points:

Quantum and EQT are direct competitors in the production and sale of natural gas in the Appalachian Basin, the largest natural gas-producing region in the United States.
The final order also requires Quantum to divest its EQT shares, prevents anticompetitive information exchange, unwinds a separate anticompetitive joint venture between the two entities, and imposes additional restraints to protect competition.
Following a public comment period, the Commission voted 3-0 to approve the final order.
For the latest news and resources, follow the FTC on social media, subscribe to press releases and read our blog.

FTC Approves Final Order to Prevent Interlocking Directorate Arrangement, Anticompetitive Information Exchange in EQT, Quantum Energy Deal

Retrieved on:

Monday, October 16, 2023

Federal Trade Commission, FTC, Acquisition, Industry, Commission, Clayton Antitrust Act of 1914, Compliance, Blog, Quantum, Natural gas, Quantum Energy Partners, News, EQT, Social media, Sale

Quantum and EQT are direct competitors in the production and sale of natural gas in the Appalachian Basin, the largest natural gas-producing region in the United States.

Key Points:

Quantum and EQT are direct competitors in the production and sale of natural gas in the Appalachian Basin, the largest natural gas-producing region in the United States.
The final order also requires Quantum to divest its EQT shares, prevents anticompetitive information exchange, unwinds a separate anticompetitive joint venture between the two entities, and imposes additional restraints to protect competition.
Following a public comment period, the Commission voted 3-0 to approve the final order.
For the latest news and resources, follow the FTC on social media, subscribe to press releases and read our blog.

Quantum Energy Partners Completes Sale of Tug Hill and XcL Midstream Assets

Retrieved on:

Tuesday, August 22, 2023

“We are pleased to complete the sale of Tug Hill and XcL Midstream, which we expect to enhance U.S. energy security, affordability and reliability, while supporting the ongoing transition to cleaner energy sources,” said Wil VanLoh, Founder and CEO of Quantum.

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“We are pleased to complete the sale of Tug Hill and XcL Midstream, which we expect to enhance U.S. energy security, affordability and reliability, while supporting the ongoing transition to cleaner energy sources,” said Wil VanLoh, Founder and CEO of Quantum.
“We are incredibly proud of the partnership we’ve had with the Tug Hill and XcL Midstream teams over the past nine years.
I also want to highlight the Tug Hill and XcL Midstream teams for their extraordinary work in building this platform, achieving leading ESG performance and positioning Tug Hill and XcL Midstream to capitalize on the opportunities ahead.
J.P. Morgan Securities and Wells Fargo Securities served as financial advisors to Tug Hill and XcL Midstream and Vinson & Elkins LLP served as legal counsel to Tug Hill and XcL Midstream.

FTC Acts to Prevent Interlocking Directorate Arrangement, Anticompetitive Information Exchange in EQT, Quantum Energy Deal

Retrieved on:

Tuesday, August 22, 2023

The FTC’s consent order delivers ground-breaking structural relief that prohibits Quantum from occupying an EQT board seat, requires Quantum to divest its EQT shares, prevents anticompetitive information exchange, unwinds a separate anticompetitive joint venture between the two entities, and imposes additional restraints to protect competition.

Key Points:

The FTC’s consent order delivers ground-breaking structural relief that prohibits Quantum from occupying an EQT board seat, requires Quantum to divest its EQT shares, prevents anticompetitive information exchange, unwinds a separate anticompetitive joint venture between the two entities, and imposes additional restraints to protect competition.
As the FTC’s complaint states, this arrangement creates an illegal interlocking directorate, which violates Section 8 of the Clayton Act.
According to the FTC’s complaint, this joint venture relationship raises additional concerns regarding anticompetitive information exchange and harms competition in the acquisition of mineral rights.
The FTC’s proposed consent order resolves the Commission’s concerns while also clearly signaling the antitrust risks of excessive entanglements and anticompetitive information exchange.

Further details about the order can be found in the analysis to aid public comment.
The Commission vote to issue the complaint and accept the consent agreement for public comment was 3-0.
When the Commission issues a consent order on a final basis, it carries the force of law with respect to future actions.

Orennia Raises US$25 Million in Series B Financing to Expand Cutting-Edge Energy Transition Analytics Platform

Retrieved on:

Tuesday, July 11, 2023

Quantum Energy Partners, NGP, Private, Biotechnology, Pension, Record, International Renewable Energy Agency, RNG, Research, Wind, Natural Resources, US, Climate change, Investment, Wellington Management Company, Growth, CCUS, Renewable energy

CALGARY, Alberta, July 11, 2023 (GLOBE NEWSWIRE) -- Orennia Inc. today announced the completion of its Series B financing, raising US$25 million to accelerate the growth of its best-in-class data and analytics platform.

Key Points:

CALGARY, Alberta, July 11, 2023 (GLOBE NEWSWIRE) -- Orennia Inc. today announced the completion of its Series B financing, raising US$25 million to accelerate the growth of its best-in-class data and analytics platform.
Orennia helps increase returns for the most sophisticated developers, investors, bankers and corporations by providing up-to-date and reliable energy transition analytics.
Founded in 1988, NGP is moving energy forward by investing in innovation and empowering energy entrepreneurs in natural resources and energy transition.
Orennia provides trusted commercial analytics to help inform investment and capital allocation decisions for renewable and low-carbon energy.

FireBird Energy II Announces Partnership with Quantum in the Permian Basin

Retrieved on:

Friday, April 21, 2023

Permian, Partnership, Quantum Energy Partners, General Motors Firebird, Acquisition, Firebird, Sale, Quantum

FORT WORTH, Texas, April 21, 2023 (GLOBE NEWSWIRE) -- FireBird Energy II LLC ("FireBird II" or the "Company") today announced the Company has secured equity commitments in excess of $500 million anchored by funds managed by Quantum Energy Partners (“Quantum”).

Key Points:

FORT WORTH, Texas, April 21, 2023 (GLOBE NEWSWIRE) -- FireBird Energy II LLC ("FireBird II" or the "Company") today announced the Company has secured equity commitments in excess of $500 million anchored by funds managed by Quantum Energy Partners (“Quantum”).
The founders and employees of FireBird II, along with other strategic partners, are making significant equity commitments to the Company alongside Quantum.
Headquartered in Fort Worth, Texas, FireBird II will invest in oil and gas properties in the Permian Basin with a primary focus on the Midland Basin.
FireBird II was formed following the recent successful sale of FireBird Energy LLC (“FireBird I”) to Diamondback Energy, Inc. for approximately $1.6 billion in November of 2022.