Private equity firm Quantum Energy Partners will invest up to $1billion in a strategic acquisition alliance with Linn Energy LLC.
A Letter of Intent (LOI) has been signed between the two companies which will see them find selected future oil and natural gas acquisitions and develop those acquired assets.
Linn Energy said it would participate with a working interest of 15-50%.
S. Wil VanLoh, Jr. and Dheeraj Verma of Quantum said:”We are excited to partner with LINN again.
“We have always held the management team in high regard and feel that this strategic partnership will allow the Company to continue its trajectory of growth and value creation for its unitholders and shareholders while providing Quantum with a unique platform to acquire and exploit assets and generate strong risk-adjusted returns for our investors.
“We believe that energy companies looking to divest sizeable or complex assets in today’s market have limited choices.
“Our partnership with LINN will truly create a new strategic buyer for these assets, one that has the capital resources and speed of a financial buyer but the operational expertise and workforce of a strategic acquirer.”
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