Contact Information: Quantum Resources Media Contact: Beverly Jernigan 713-494-1733 Quantum Resources Company Contact: David Bole 713-328-0022
DENVER, CO--(Marketwire - March 30, 2009) - Quantum Resources Management, LLC, which manages
the Quantum Resources oil and gas acquisition funds, announced today that
its board of directors has elected Alan L. Smith to serve as President and
CEO effective immediately. Smith will be responsible for charting
acquisition strategy and running the day-to-day operations of Quantum
Resources Management, LLC.
Donald D. Wolf will retain his current positions with the Quantum Resources
family of funds and will remain an integral part of the leadership team,
including serving as Chairman of Quantum Resources Management, LLC.
Quantum Resources will continue to focus on acquiring long-lived, mature
oil and gas properties and enhancing the value of those assets through
exceptional execution. Upon the completion of a several month transition
period, Quantum Resources will relocate the main office to Houston.
Smith, 46, has served as a Managing Director of Quantum Energy Partners, a
family of energy-focused private equity funds, since May 2006, where he
co-led its investment efforts in the exploration and production sector.
Utilizing his experience gained from starting and serving as CEO of Chalker
Energy Partners, LP, a highly successful Quantum Energy Partners portfolio
company, as well his significant leadership, technical, operational and
commercial skills gained from his prior experience at Ocean Energy,
Burlington Resources and ARCO Oil & Gas, Smith actively worked with many of
Quantum Energy Partners' portfolio companies on strategic, operational and
other value-building activities.
Wolf said, "Alan brings strong execution skills, a proven track record of
creating value, and the leadership skills to direct top flight teams. I am
looking forward to working with him on the leadership team as we focus on
delivering great returns to our investors over the coming years."
Smith said, "It's a great honor to join the Quantum Resources leadership
team. I believe that the current economic climate is likely to produce
tremendous investment opportunities in the energy space over the coming
months. Quantum Resources, through its significant remaining undrawn equity
commitment is very well-positioned to capitalize on those opportunities and
expects to invest over $1.2 billion within the next two years. I am excited
about working with Don to add value to our current assets and to seek out
unique acquisition targets to further expand upon the strategic objectives
of the company."
Founded in 2006, the Quantum Resources funds have $1.2 billion in total
equity commitments from investors. Quantum Resources targets acquisitions
in the $200 million to $2 billion size range and since inception has
acquired more than $600 million of properties in nine states with fields
located in the Permian Basin, Mid-Continent, Gulf Coast and Rocky Mountain
regions.
