Quantum backs Crumps

Houston’s Quantum Energy Partners has put $100 million behind a new venture aimed at developing Permian Basin oil and gas properties, Crump Energy Partners.
The father/son team of Lea and Will Crump are behind the firm. Lea is an old hand in the Permian, an engineer with Gulf Oil and Amoco before forming Crump Petroleum in 1983. He was later part of BC Operating Inc.
CEP will focus on acquiring both mature conventional assets with enhanced recovery potential and development drilling properties. The company’s target deal size will range between $10 million and $50 million, but can top $200 million.