Houston, Texas—October 1, 2013—Quantum Energy Partners (“Quantum”) is pleased to announce the formation of Tanos Energy II (“Tanos II” or the “Company”) with upstream industry veteran Mark Brandon and his executive management team.
Tanos II will remain headquartered in Tyler, TX and will engage in the acquisition and development of oil and gas assets, with a specific focus on opportunities with horizontal development potential in the Ark-La-Tex region. Quantum and members of the management team have collectively made capital commitments in excess of $200 million to the Company.
The Tanos II team will be led by Mark Brandon as Chief Executive Officer and President. The executive team of the Company will include Nick Pollard (VP – Exploration), Joe Freeman (VP – Business Development), Brian Durman (VP – Land) and Geoff Doke (CFO). Tanos I, which was originally formed in 2007 by this management team, pursued a similar business plan and was successfully sold earlier this year.
Brandon commented, “Upon our exit with Tanos I, the management team pursued the private equity market looking for a partner with similar strategies as ours with transparency towards the end result, and we believe we have found that in Quantum. From our first meeting we had the sense that the people at Quantum understood the challenges and rewards of the Ark-La-Tex region and are excited about our future relationship. Within a short time of partnering with Quantum, we have already seen the benefit of their long standing relationships in the industry. ”
“We are excited to begin this partnership with the Tanos II management team,” said Dheeraj Verma, Managing Director of Quantum. “We believe that the current environment will provide multiple opportunities for this execution-oriented management team to invest capital and create value in their focus area. Their track record and expertise in cost-effective horizontal drilling and development will serve them well.”
About Tanos Energy, II, LLC
Based in Tyler, Texas, Tanos II is led by a team of seasoned industry professionals, many with nearly 30 years of experience in the oil and gas industry. For more information on Tanos II, please visit www.tanosexp.com.
About Quantum Energy Partners
Founded in 1998, Quantum Energy Partners is a leading provider of private equity capital to the global energy industry, having managed together with its affiliates, more than $6.5 billion in equity commitments since inception. For more information on Quantum, please visit www.quantumep.com. For investor relations, please contact Michael Dalton at (713) 452-2000.