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Quantum Energy Partners Announces the Formation of Rio Oil and Gas II, LLC

HOUSTON, TX--(Marketwired - Feb 3, 2015) -  Quantum Energy Partners ("Quantum") is pleased to announce the formation of Rio Oil and Gas II, LLC ("Rio II" or the "Company") together with its founders, Alan Clemens ("Clemens"), Stacey Cude ("Cude"), and the management team.

Rio Oil and Gas, LLC (Rio I) was formed in June 2013 and quickly acquired assets in the Permian Complex in both the Midland and Delaware Basins. Over the following twelve months, Rio I doubled its acreage footprint in the Midland Basin, improved operations, and grew net production to 3,000 Boepd. Rio I successfully monetized its position in the Permian Complex during September 2014 in a series of transactions totaling $585 MM.

Rio II will engage in the acquisition and development of oil and gas assets, focusing on both conventional and unconventional 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 $350 million to the Company. 

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Quantum Energy Partners Announces the Formation of Rio Oil and Gas, LLC

Houston, Texas: 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 Petroleum.

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