Michael Magilton leads the corporate finance and treasury functions of QR Energy LP, a public upstream MLP, and Quantum Resources Fund, a private E&P. He manages hedging programs, cash management, and lending relationships He plays a central role in all M&A and capital markets activities. He joined the company in January 2011, following QR Energy’s IPO. Previously, he worked in private equity with Aurora Capital Group, Wellspring Capital
Management, and First Reserve Corp. He started career in investment banking with positions at Bank of America and Morgan Stanley.
Accomplishments: In 2012 completed three acquisitions at QR Energy for nearly $600 million (one dropdown from Quantum Resources Fund and two third-party transactions). Third-party acquisitions completed included the purchase of primarily oil properties from Prize Petroleum for $225 million in April—the first third-party acquisition done by QR Energy since its December 2010 IPO. The one-on-one negotiated deal was sourced through existing relationships
with the seller. The process involved significant acquisition financing (a public equity offering and bridge loan commitment) and commodity hedging. Executed six years of oil hedges at attractive prices. Earned an MBA from Harvard Business School and a BSBA from Creighton University.
On the Prize purchase: “It was an ideal acquisition for QR Energy due to its shallow decline and long reserve life, high-margin liquids production, and location in one of our core areas (the Ark-La-Tex region). And it brought a lot of interesting things together from a financing perspective; we executed an equity offering and entered into a bridge
financing as part of the transaction, which ultimately led to our inaugural high-yield senior note offering that closed in July 2012.”
Goals: Continue to play a key role in the growth and success of both Quantum Resources and QR Energy. Build a strong reputation and expertise in the oil and gas industry and one day progress into a CEO role.
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