Quantum Energy Forms Rio Oil And Gas

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Made capital commitments to form the new company.

Quantum Energy Partners has formed Rio Oil and Gas LLC, an upstream energy company which will focus on conventional plays in select North American basins where the team has prior experience.

Quantum and members of the management team, led by Alan Clemens and Stacey Cude, have made capital commitments in excess of $300 million to the new company.

Clemens will act as the company’s chief executive and Cude will be its president and chief operating officer. Prior to founding Rio, Clemens and Cude were senior members of Quantum's technical team, serving as Chief of Geology and Geophysics and Chief of Engineering, respectively.

Clemens' prior experience includes serving as a member of the Southwestern Energy's leadership team, as well as prior experience with Zilkha Energy and Enron Oil and Gas. Cude's prior experience includes serving as a member of Legado Resources' leadership team and various management positions with Anadarko Petroleum.

Wil VanLoh, president and chief executive of Quantum, commented, "I am pleased to continue our partnership with Clemens and Cude as they launch Rio. Given this team's experience, we are confident that their proven exploitation, execution, and capital allocation capabilities will enable them to deliver superior returns."

Clemens remarked on the closing, "Quantum, Stacey, and I have spent considerable time together as a team. We have calibrated and sharpened how we each view risk and capital allocation. This has created a unique and powerful partnership that will enable us to invest and execute at a high level. We see a great opportunity in the market today to capture conventional assets that are rich in re-development potential. We are excited to continue our partnership with Quantum, whose strong financial sponsorship and energy industry expertise provides a great complement to our team."

Rio Oil and Gas is based in The Woodlands, Texas. Quantum Energy Partners is a private equity fund which focuses on the global energy industry.