Quantum Energy Partners Announces the Formation of Rio Oil and Gas, LLC
HOUSTON, TX -- (Marketwired) -- 07/09/13 -- Quantum Energy Partners
("Quantum") is pleased to announce the formation of Rio Oil and Gas,
LLC ("Rio" or the "Company") together with its founders, Alan Clemens
("Clemens") and Stacey Cude ("Cude").
Rio will engage in the acquisition and development of oil and gas
assets, primarily focusing on conventional plays in select North
American basins where the team has prior experience. Quantum and
members of the management team have collectively made capital
commitments in excess of $300 million to the Company.
The Rio team will be led by Clemens as Chief Executive Officer and
Cude as 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
Wil VanLoh, President and CEO of Quantum, commented, "Quantum is
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."
About Rio Oil and Gas, LLC
Based in The Woodlands, Texas, Rio will focus on the acquisition and
exploitation of onshore U.S. growth-oriented E&P opportunities. The
organization has proven skills in capital allocation, acquisition
execution, and operational excellence.
About Quantum Energy Partners
Quantum Energy Partners is a leading provider of private equity
capital to the global energy industry, having managed together with
its affiliates, more than $6.5 billion in equity commitments since
inception. For more information on Quantum, please visit
For investor relations, please contact
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