Trident Energy, an international oil and gas company backed by Warburg Pincus, recently closed on a new investment by Quantum Energy Partners to support Trident’s continued growth and business development. 

“We are delighted to have Quantum Energy Partners onboard. Their vision is aligned with ours and their confidence in our strategy and business model demonstrates the quality of our assets, reserves base and our experienced team,” Jean-Michel Jacoulot, CEO at Trident Energy, commented in a company release on Feb. 16.

Trident is headquartered in London and focused on acquiring, operating and redeveloping mid-life oil and gas assets. The company was created in 2016 and backed by an equity commitment led by Warburg Pincus with a broad mandate to acquire assets across Africa, Latin America and Asia.

In 2017, Trident acquired and successfully took over the Ceiba and Okume assets in Equatorial Guinea from Hess Corp. The company also completed the acquisition of Pampo and Enchova, off the coast of Rio de Janeiro, in 2020.

According to the company release, Trident has total gross operated production of approximately 60,000 bbl/d of oil.

Under the terms of the transaction announced Feb. 16, Quantum is now a significant investor in Trident and has committed to participate in a $400 million line of equity alongside Warburg Pincus and Trident’s existing minority shareholders. Trident expects to use the LOE to fund additional growth opportunities in its existing assets and new opportunities. 

“Quantum is excited to be partnering with the Trident Energy team via a meaningful ownership interest from day one and a sizable go-forward equity commitment,” Tom Field, partner at Quantum, commented.

“We believe the Trident team is uniquely capable with a proven track record of creating value and doing so responsibly with a strong commitment to ESG,” Field continued. “Additionally, we feel that the company is well positioned to continue to acquire sizable assets in the international arena and we’re excited to provide growth capital to that end.”

The transaction with Quantum will enable Trident to continue its growth trajectory and “take Trident Energy to the next level,” according to Jacoulot, who also noted Warburg Pincus remains dedicated to the company as its majority shareholder.

Ryan Dalton, managing director at Warburg Pincus, added: “Trident has grown its business impressively over the past six years of our partnership, now with a global portfolio of high-quality assets. We are excited to partner with Quantum as Trident continues to build its platform.”

J.P. Morgan Securities Plc was an exclusive financial adviser and a sole placement agent to Trident Energy with respect to the transaction with Quantum.

Vinson & Elkins LLP (V&E) advised an affiliate of Quantum Energy Partners in its new investment into Trident Energy. The V&E corporate team was led by partner Matt Falcone and senior associate Yong Eoh, with assistance from senior associate Sam Garforth-Bles and associates Natalie Stanley and Erik Slavin.