Post Oak Energy Capital has closed an equity commitment to Quantent Energy Partners LLC, which simultaneously completed its initial acquisition of natural gas assets in the Haynesville Shale.
Quantent’s acquisition includes more than 7,000 net acres located in North Louisiana, underpinned by an attractive combination of producing wellbores and operated development inventory, according to a Sept. 9 press release. Financial details of the transaction weren’t disclosed.
Quantent has cultivated “a deep pipeline of opportunities” and is engaged in pursuing assets and development projects across the region. The company is working to grow its footprint in the Haynesville.
The Quantent management team has extensive operating experience in the region and intends to target upstream development opportunities in the Haynesville and Bossier shale formations across North Louisiana and East Texas.
Headquartered in Oklahoma City, Quantent’s leadership includes industry veterans and co-founders Kevin DeLay, CEO, and Todd Nance, COO. The Quantent management team’s key leadership has a long history of successfully drilling and completing horizontal wells targeting the Haynesville formation in partnership with Post Oak.
“We are proud to announce the successful formation of our partnership with Post Oak and the completion of our initial acquisition,” DeLay said in the press release. “Our team has a deep familiarity with building upstream ventures in collaboration with Post Oak in the Haynesville and are confident that we have a partner that will provide us with the support and resources required to succeed. We are excited to continue to leverage our operational track record to drive value from the acquired asset base as well as subsequent opportunities in the region.”
Post Oak’s Frost Cochran, managing director and founding partner of Post Oak, said the private equity firm is pleased to again partner with Quantent in its newest venture and is “highly confident in their ability to unlock value in a region where they possess a distinguished track record of assembling and developing upstream assets.”
“The growing need for responsible development and operation of natural gas assets that are strategically located in close proximity to key demand centers in the Gulf Coast region will complement Quantent’s strategic approach to building its latest upstream enterprise,” Cochran said.