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Quantum Energy Partners Announces the Formation of Vitruvian Exploration II, LLC with Richard Lane

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quantumThe Woodlands, Texas — September 18, 2012 — Quantum Energy Partners (“Quantum”), a leading energy private equity firm, is pleased to announce the formation of Vitruvian Exploration II, LLC (“Vitruvian II” or the “Company”) with industry veteran Richard Lane. Supported by a $250 million equity commitment from Quantum, Vitruvian II will pursue a multi-faceted strategy to build a diversified portfolio of high quality, emerging and undeveloped oil and gas assets in North American unconventional resource plays.

The Vitruvian II team will be led by Richard Lane as Chief Executive Officer. Lane previously served as Chief Executive Officer, President and Chairman of Vitruvian Exploration, LLC (“Vitruvian”) where he pursued a strategy of exploration, development and production of onshore North American unconventional resources. From 1998 to 2008, Lane held various management positions at Southwestern Energy Company. When he left the company in 2008, he was Executive Vice President and President of the company’s exploration and production (E&P) subsidiaries, SEECO, Inc. and Southwestern Energy Production Company.

Joining Lane as Chief Operating Officer is John Thaeler who most recently served as Senior Vice President of Southwestern Energy Company’s subsidiaries, SEECO, Inc. and Southwestern Energy Production Company. At Southwestern, John led the discovery, exploration and development of the Fayetteville Shale and more recently he directed all exploration and new venture efforts for the company. Previously, John held various technical and managerial positions during a 20-year career at Occidental Petroleum Company where he worked in Africa, the Middle East, Central and South America, and the continental U.S.

Lane and Thaeler will be supported by a highly experienced and seasoned team from Vitruvian providing Vitruvian II a strong operating platform to focus on the immediate execution of its strategy. The team has been working together successfully for the last four years and has an outstanding track record of creating value in unconventional resource plays, which includes the pending sale of over $400 million in assets developed at Vitruvian.

“I am excited about being in partnership with Quantum,” said Lane. “We had numerous choices for a capital provider. With Quantum, we know we are not only partnering with a very strong financial group but also one with significant technical resources and horsepower. I look forward to this being the first of several successful ventures with them.”

“We are thrilled to begin this partnership with Richard and John. They both have exceptional track records in creating meaningful value for all of their predecessor organizations. We believe that unconventional resource plays will continue to drive significant oil, gas and liquids production in the North American markets. Vitruvian II will be well positioned to creatively participate in this development, continue to build on its franchise and generate superior returns for Quantum’s limited partners,” said Dheeraj Verma, Managing Director at Quantum Energy Partners.

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