Humble Midstream II Partners and Quantum Capital Group announced a partnership on Jan. 30 for North American infrastructure development and operations.
The statement did not include the amount of Quantum’s capital commitment to Denver-based Humble II.
“With this commitment from Quantum, we are able to focus on building infrastructure solutions that support the North American energy complex,” said Steven Huckaby, Humble II CEO. “As energy security and sustainability remain important issues, we believe that traditional and low-carbon energy solutions will each play a vital role in fueling our world.”
According to the statement, Humble II lists its goals as developing and operating both traditional infrastructure and facilities for the energy transition.
Last September, after Exxon Mobil bought Denbury—a developer of carbon capture technology—Humble II’s Huckaby said enthusiasm for clean-energy midstream was growing.
“In most cases, individual emitters are not likely to have enough scale with their volumes to drive CCS (carbon capture and sequestration) projects on their own,” Huckaby said in September. “So it’s mostly the sequesterers and the midstream leading the dance.”
On Jan. 30, a Quantum partner said the capital group had confidence in Humble II’s experience and ideas.
“They have a demonstrated track record in the infrastructure space and a creative, customer-focused approach to providing solutions to the industry,” said Garry Tanner, Quantum partner. “We believe the current environment presents an attractive opportunity to develop, own and operate energy infrastructure.”
Quantum Capital Group is a private capital investment firm with a focus on renewable energy and decarbonization sectors.
Recommended Reading
BP CEO: Final Permian Processing Facility to Come Online by Mid-year
2024-05-14 - BPX Energy, BP’s Houston-based subsidiary, plans to bring on its fourth and last Permian Basin processing facility mid-year 2024, CEO Murray Auchincloss said.
Petrobras Not in a Race with Guyana to Boost Production, CEO Says
2024-05-14 - While Brazil and Guyana aren’t necessarily competing to see which country can produce more oil, Petrobras’ CEO Jean Paul Prates jokingly said Brazil was winning, while adding that Bolivia’s falling production was an opportunity for Argentina.
Pembina Pipeline to Renew Share Repurchase Program
2024-05-14 - Pembina Pipeline has approval from the Toronto Stock Exchange to purchase up to 5% of its outstanding common shares.
US Hits China with Huge Tariff Hikes on Solar Cells, EVs, Batteries
2024-05-14 - The directive quadruples the tariff rate on electric vehicles from 25% to 100%, and the tariff rate for solar cells doubles to 50%.
ProPetro Adds Exxon Designee Volkov to Board
2024-05-14 - Alex Volkov is currently the transition executive tasked with planning the integration of Pioneer Natural Resources and Exxon Mobil.