Quantum Puts Up $225M For Majority Stake In Canadian Oil Co.

Law360, New York (May 1, 2013, 7:08 PM EDT) -- Quantum Energy Partners has acquired a majority stake in Canadian oil producer Carmel Bay Exploration Ltd. in exchange for capital commitments of more than $225 million, the Texas energy private equity firm announced Wednesday.

The Houston-based PE firm reached a deal with Carmel Bay President and CEO Patrick Manuel, a longtime executive in the Canadian energy exploration and production industry. In tandem with Manuel and other senior executives and board members at Carmel Bay, Quantum agreed to make combined initial and future capital commitments of at...
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