Houston-based Quantum Energy Partners III LP, Ed Hutchinson, Phil Peron and Steve Salge have formed Houston-based Sequoia Resources LP with $19 million of backing from Quantum. Sequoia will focus on acquiring, exploiting and producing oil and gas properties in the South Texas and Gulf Coast areas, with a primary focus on shallower, mature properties. The company will focus on acquiring reserves in the $1 million to $15 million size range with a preference of operated assets that it can apply its technical expertise to enhance production. Sequoia's management team consists of Hutchinson, managing director, engineering; Peron, managing director, geosciences; and Salge, managing director, land. Prior to forming Sequoia, Hutchinson, Peron and Salge were involved in the start-up, growth and sale of a Quantum Energy Partners II LP portfolio company. Sequoia can be reached at 281-405-2650 or ssalge@houston.rr.com.
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