April 27, 2016 – HOUSTON, TX – Quantum Energy Partners (“Quantum”), a leading energy private equity firm, is pleased to announce the formation of Sentinel Peak Resources LLC (“Sentinel Peak” or the “Company”) with certain former executives of Berry Petroleum led by industry veterans Michael Duginski (“Duginski”) and George Ciotti (“Ciotti”).
Sentinel Peak will engage in the acquisition, development, and exploration of oil and gas assets, primarily focusing on heavy oil development in California. Quantum and members of the management team have collectively made capital commitments in excess of $300 million to the Company.
The Sentinel Peak team will be led by Duginski as Chief Executive Officer and President and Ciotti as Chief Financial Officer and other seasoned executives and California operating personnel. The Corporate office will be in Denver with a regional office in California.
Duginski remarked on the closing, “We look forward to building Sentinel Peak Resources into a strong California competitor and world class heavy oil operator. We see a great opportunity in the market today to capture long-lived enhanced oil recovery opportunities. We are also excited to partner with Quantum, whose strong financial sponsorship and energy industry expertise provides a great compliment to our team.”
Garry Tanner, Managing Director at Quantum, said “We are excited to be partnering with Duginski and Ciotti who are seasoned executives and have a great track record of creating value in California, a rich oil and gas province which has its own unique operating characteristics that can be especially challenging to those not familiar with the area.”
About Sentinel Peak Resources LLC
Sentinel Peak is a Denver, CO based company focused on the acquisition and development of onshore oil opportunities, with an emphasis on heavy oil production and thermal enhanced oil recovery in California.
About Quantum Energy Partners
Quantum Energy Partners is a leading provider of private equity capital to the global energy industry, having managed together with its affiliates more than $10.5 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.