August 24, 2017 – HOUSTON, TX – Quantum Energy Partners, a leading energy private equity firm, is pleased to announce the formation of Vitruvian Exploration IV with industry veterans Richard Lane, John Thaeler and Brian Rickmers. Supported by a $450 million equity commitment from Quantum, Vitruvian IV is actively building a portfolio of high quality, emerging and undeveloped oil and gas assets in North American unconventional resource plays. Vitruvian IV is the third consecutive partnership between Quantum, Lane, Thaeler and Rickmers.
Vitruvian IV will initially be focused on the Eagle Ford Shale in South Texas. To-date, the Company has acquired or contracted to acquire ~120,000 net acres of undeveloped and highly contiguous leasehold in one of its target areas. This includes the acquisition of Sanchez Energy’s (NYSE:SN) recently announced ~70,000 net acre Javelina asset divestment. The acreage acquired by Vitruvian IV possesses world class resource rock properties, is optimally situated for long-lateral development and has no existing midstream dedications which will provide for an optimal long-term development strategy. Vitruvian IV will commence operations on its Eagle Ford assets during the fourth quarter of 2017.
The Vitruvian IV team is led by Richard Lane as Executive Chairman, John Thaeler as Chief Executive Officer and Brian Rickmers as Chief Financial Officer. Prior to the formation of Vitruvian IV, Lane, Thaeler and Rickmers were the founders and senior leaders of Quantum-backed Vitruvian Exploration II and Vitruvian Exploration III. Vitruvian II acquired, delineated and developed a core position in Oklahoma’s SCOOP play which was ultimately sold to Gulfport Energy (NASDAQ:GPOR) in February 2017 for $1.85 billion. Vitruvian III followed a similar strategy on a smaller scale in Oklahoma’s STACK play which was sold to an undisclosed buyer in April 2017. Prior to Vitruvian, both Lane and Thaeler were senior executives at Southwestern Energy Company (NYSE:SWN), and Rickmers was Chief Commercial Officer at Newfield Exploration Company (NYSE:NFX).
Lane, Thaeler and Rickmers are supported by a highly experienced and seasoned team who provide a strong operating platform to focus on the immediate execution of the Company’s strategy. The team has been working together successfully for nearly a decade and has an outstanding track record of creating value in unconventional resource plays.
“Vitruvian is proud to extend its long-standing partnership with Quantum,” remarked Lane. “When we set out to find a financial partner in 2012, we wanted a technically minded, long-term, strategic partner who could help us achieve our goals and maximize value. As evidenced by our past successes with Vitruvian II and Vitruvian III, we found exactly what we were looking for with Quantum.”
Dheeraj Verma, President of Quantum, commented, “We are very pleased to partner again with Richard, John, Brian and the entire management team at Vitruvian IV. They are a team of talented and motivated individuals who are exceptional at evaluating and then developing unconventional reservoirs. This team has consistently created significant value for all stakeholders through the application of technology and best operating practices in a safe and responsible manner.”
About Vitruvian Exploration IV, LLC
Based in The Woodlands, TX, Vitruvian Exploration IV, LLC is focused on acquiring, developing and operating unconventional oil and gas assets in the United States. For more information on Vitruvian IV, please visit www.vexpl.com or call (832) 458-3100.
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 $13.5 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.