Quantum Energy Partners announced the formation of Vitruvian Exploration II LLC with industry veteran Richard Lane. Supported by a $250 million equity commitment from Quantum, Vitruvian II will pursue a multi-faceted strategy to build a diversified portfolio of high quality, emerging and undeveloped oil and gas assets in North American unconventional resource plays.
The Vitruvian II team will be led by Richard Lane as CEO. Lane previously served as CEO, president and chairman of Vitruvian Exploration LLC where he pursued a strategy of exploration, development and production of onshore North American unconventional resources.
From 1998 to 2008, Lane held various management positions at Southwestern Energy Co. When he left the company in 2008, he was executive vice president and president of the company's exploration and production subsidiaries, SEECO Inc. and Southwestern Energy Production Co.
Joining Lane as COO is John Thaeler who most recently served as senior vice president of Southwestern Energy Co.'s subsidiaries, SEECO Inc. and Southwestern Energy Production Co. At Southwestern, he led the discovery, exploration and development of the Fayetteville shale and more recently he directed all exploration and new venture efforts for the company.
Previously, Thaeler held various technical and managerial positions during a 20-year career at Occidental Petroleum Co. where he worked in Africa, the Middle East, Central and South America, and the continental U.S.
Lane and Thaeler will be supported by a highly experienced and seasoned team from Vitruvian providing Vitruvian II a strong operating platform to focus on the immediate execution of its strategy. The team has been working together successfully for the last four years and has an outstanding track record of creating value in unconventional resource plays, which includes the pending sale of over $400 million in assets developed at Vitruvian.