Quantum Energy Partners, a leading provider of private equity capital to the global energy industry, announced this Monday that, along with its partner Houston Energy; one of the premier privately-held independent oil and gas companies in the Deepwater Gulf of Mexico, launched HEQ Deepawater; a new company with more than $400 million of equity capital commitments from Quantum and management.
The new company HEQ Deepwater, will have CEO Ron Neal, a veteran of the Deepwater Gulf of Mexico, leading it; supported by the Houston Energy senior leadership team. As both Quantum Energy Partners and Houston Energy have unique expertise on the field; HEQ will look to leverage the strengths and experiences of both; in order to build a diverse portfolio of development stage upstream; as well as infrastructure assets in the Deepwater Gulf of Mexico.
In fact, Houston Energy has a 30+ year track record of value creation; boasting an ~80% commercial success rate. It has also boosted the discovery of more than 900 MMboe of audited 2P reserves; from internally generated Deepwater Gulf of Mexico exploration prospects.
In addition, the Houston Energy team has been a participant in multiple facility scale development projects, such as the Delta House and Kings Quay complexes. Consequently, when evaluating potential opportunities, HEQ Deepwater will look to partner with premier operators who have a shared commitment to responsibly sourced hydrocarbons; including ESG leadership and environmental stewardship.
Also recommended for you: As Hurricane Ida weakens, gasoline rises and oil loses momentum. Click here to read.
Quantum Energy looking to be a premier partner for deepwater GoM developments
The newly launched company already has a closed acquisition, according to the statement; it was for a 20% working interest in the Shenandoah development from an affiliate of Beacon Offshore Energy II LLC; which is in fact HEQ’s second acquisition, completed on August 25.
About the relevance of the company and the launching, Wil VanLoh, Founder and CEO of Quantum Energy Partners said. “The Deepwater Gulf of Mexico is one of the most important hydrocarbon provinces in the world; uniquely capable of delivering large production volumes with lower relative carbon intensity than any other region.”
He also remarked. “Reductions in costs and project cycle times over the last few years have greatly improved the project economics of Shenandoah and other developments across this oil-rich basin. Quantum is looking forward to being a great partner to the many active operators in the Deepwater Gulf of Mexico.”
Finally, Ron Neal, CEO of HEQ Deepwater said, “Our partnership with Quantum provides HEQ Deepwater the opportunity to be a meaningful participant in the full-cycle development of world-class assets across the Deepwater Gulf of Mexico. Houston Energy will continue to generate high-quality exploration prospects for our industry partners; but HEQ Deepwater will allow us to be a multi-dimensional partner for operators throughout the development cycle of an asset.”
