Quantum Energy Partners announced Wednesday the formation of Rio Oil and Gas, which will focus on buying and developing oil and gas assets mostly in conventional plays in North America.
Quantum is provider of private equity capital and is focused on energy. It and its affiliates have managed more $6.5 billion in equity commitments.
Rio Oil and Gas is based in The Woodlands and is being led by its founders Alan Clemens and Stacey Cude. Quantum and members of the management team collectively made more than $300 million in capital commitments for Rio.
Clemens is CEO and Cude is president and chief operating Officer. Previously, 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 Southwestern Energy’s leadership team, as well working 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 Petroleum.