Deal of the Week: Partnership Starts with $450 Million Initial Investment

Deal of the Week: Partnership Starts with $450 Million Initial Investment FotolEdhar - Fotolia

James Baird, managing director and general counsel at Quantum Energy Partners of Houston, used Vinson & Elkins to form a partnership with Tug Hill Inc. to develop and exploit conventional and unconventional assets in certain North American basins.

Thompson & Knight represented Tug Hill, a private oil and gas operating company in Fort Worth.

On Aug. 21, Quantum Energy and Tug Hill announced the partnership, which will be funded by an initial $450 million equity commitment from the companies. Quantum Energy is a provider of private equity capital to the global energy industry.

V&E corporate partners Keith Fullenweider and Creighton Smith, both of Houston, led the team for Quantum Energy, with assistance from associates John Grand and Thomas Laughlin, both of Dallas, and Chris Colquitt and Robert Hughes, both of Houston. Also, tax partner John Lynch of Houston worked on the transaction.

At Thompson & Knight, partner Wesley Williams of Dallas and Fort Worth led the team for Tug Hill, with assistance from partners Jessica Hammons and R. David Wheat and associates Sam Merrill and Van Wiltz, all of Dallas.

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