Quantum Bankrolls Permian Company ExL Petroleum

Abstract

With half a billion dollars to spend, ExL Petroleum Management LLC is planning some drilling and a little shopping in the Permian Basin. The Midland, TX, company's management and global private equity firm Quantum Energy Partners have anted up capital commitments of more than $500 million in a partnership to acquire and develop in the basin, Quantum said November 3. ExL was founded in 2005 and has since acquired, developed, and sold multiple Permian Basin asset packages for proceeds in excess of $1 billion at very attractive returns, Quantum said. Doug Robison, ExL President, said the company has spent the past several months "clearing the deck" to begin afresh with Midland Basin horizontals.