Contact Information: Media Contact: Beverly Jernigan 713-494-1733
Consortium Forms Icon NGS, LLC to Develop and Acquire Natural Gas Storage Facilities
Quantum NGS Holdings, Larry Bickle, Andy Lang and Mark Fullerton Form Icon NGS, LLC
| Source: Quantum NGS Holding, LLC
HOUSTON, TX--(Marketwire - November 4, 2009) - Quantum NGS Holding, LLC announced today that
together with Dr. Larry W. Bickle, William A. ("Andy") Lang and Mark
Fullerton, it has formed Icon NGS, LLC, a natural gas storage focused
company. Based in Houston, TX, Icon NGS will develop and/or acquire
high-deliverability, multi-cycle natural gas storage capacity in the United
States.
Icon NGS is led by Lang, Fullerton and Bickle, who have collectively
developed, operated, financed or acquired more than 200 billion cubic feet
of working natural gas storage capacity. This experience includes the
successful development and operation of numerous natural gas storage
projects, including Bobcat, Egan, Kirby Hills, Lodi, Moss Bluff, NorTex and
Tioga Gas Storage.
"Given the strong industry fundamentals we see today coupled with the
financial disruption the natural gas storage development market has
recently experienced, we are very excited about the prospects for a new
well-capitalized, growth-oriented storage development company," said Lang,
President and Chief Executive Officer of Icon NGS. "With the quality of
the management team we have assembled and the backing of a strong
investment partner like Quantum NGS Holding, we believe Icon NGS will have
tremendous access to attractive development and acquisition opportunities."
Icon NGS will initially focus on identifying strategic supply and market
locations where it can develop greenfield storage facilities from concept
stage to commercial operations. The company will also evaluate the
acquisition of in-process greenfield storage development projects and
operating storage facilities that have significant expansion potential or
can be operationally improved by the Icon NGS team.
"We are pleased to once again be partnering with Dr. Bickle to form a
natural gas storage development company," said Scott Soler, Managing
Director at Quantum Energy Partners. "This management team has a long
history of successfully working together in the midstream space and we are
encouraged by the many opportunities they have already identified to
improve the operational efficiency of the U.S. natural gas pipeline grid."
Andy Lang, President and Chief Executive Officer of Icon NGS, is an
accomplished executive with more than 25 years of experience in the
midstream industry. Most recently, Lang was President of Somerset Gas
Transmission Company, LLC, a privately held company which owns and operates
an intrastate natural gas pipeline in Ohio and a natural gas gathering
system in Pennsylvania. Prior to joining Somerset, Lang had served as CEO
of NiSource Inc. subsidiary TPC Corporation and CEO of Vastar Gas Marketing
Inc.
Mark Fullerton, Chief Operating Officer of Icon NGS, is a natural gas
storage development and construction expert with over 19 years of industry
experience. Previously, Fullerton served as Senior Vice President of Lodi
Gas Storage. Prior to joining Lodi, Fullerton served as an independent gas
storage consultant for various development projects.
Dr. Larry Bickle, Chairman of Quantum NGS Holdings and of Icon NGS, is a
highly respected natural gas storage developer who has successfully
developed numerous natural gas storage projects. Prior to working with
Quantum, Bickle was a co-founder of Haddington Ventures, LLC, a private
equity fund that invests in midstream energy companies and assets.
Previously, Bickle was Co-founder, Chairman and Chief Executive Officer of
Tejas Power Corporation.
Quantum NGS Holdings is a partnership between Quantum Energy Partners, a
leading investment firm specializing in the energy industry with over $5.7
billion in capital under management, and Dr. Larry Bickle. Icon NGS
represents Quantum NGS' second subsidiary natural gas storage development
company following its formation of Merchant Energy Partners in 2008.
For more information on Icon NGS, please contact Andy Lang at (713)
403-6464.