Tanos II will remain headquartered in Tyler, Texas 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 CEO and president. The executive team of the company will include Nick Pollard as vice president of exploration, Joe Freeman as vice president of business development, Brian Durman as vice president of land, and Geoff Doke as chief financial officer. Tanos I, which was originally formed in 2007 by this management team, pursued a similar business plan and was successfully sold earlier this year.
"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," Brandon said in the release.
"We are excited to begin this partnership with the Tanos II management team," Dheeraj Verma, Quantum managing director, said in the release. "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."
Quantum Energy Partners is a leading provider of private equity capital to the global energy industry. The company is headquartered in Houston.