Quantum Energy company sells Anadarko Basin assets for $336M

HOUSTON – Quantum Energy Partners said Tuesday one of its portfolio companies has closed a $336 million deal to sell land in the Anadarko Basin that primarily produces oil and natural gas liquids.

The Houston private equity firm  said a Tulsa-based producer it backed in 2008, Primary Natural Resources III, sold 10,000 net acres that produced  2,650 barrels of oil equivalent per day in the Western Oklahoma basin. Quantum did not disclose the buyer.

Though the Anadarko Basin typically is known as a natural gas-heavy region, oil and natural gas liquids made up the bulk of Primary’s assets, at more than 70 percent. Quantum was not immediately available for comment.

Primary has other assets in Western Oklahoma that it plans to develop with backing from Quantum, said Primary CEO Rich Talley in a written statement.

It’s the first deal in more than a year in which Quantum has disclosed financial terms, according to data compiled by Bloomberg.

The $6.5 billion private equity firm’s most recent deal was the acquisition of Dayton-based coiled tubing string maker Global Tubing, announced in June. Quantum and Houston-based Forum Energy Technologies bought equal shares in the company, but they did not disclose the financial terms of the deal.

This year, Quantum also bought Calgary-based producer Carmel Bay Exploration, which has assets in Western Canada, for an undisclosed sum. Over its 16 year history, the firm has disclosed investments of about $3 billion in the exploration and production sector, Bloomberg data show.

Also on FuelFix:

Top 10 deals of the US energy boom