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Consortium Forms Triton Energy Partners to Develop and Acquire Natural Gas Storage Facilities

Posted on: Thursday, 10 July 2008, 09:01 CDT

Quantum Energy Partners IV, LP announced today that Quantum, Dr. Larry Bickle and Larry Lawyer formed Triton Energy Partners, LLC to develop and/or acquire high-deliverability, multi-cycle natural gas storage capacity in the United States. Triton will initially focus on identifying strategic supply and market locations where it can develop greenfield storage facilities from the concept stage to commercial operations. The Company will also evaluate the acquisition of in-process greenfield storage development projects and operating storage facilities that have significant expansion potential or can be operationally improved by Triton's management team.

"We are excited about the formation of Triton Energy Partners," said Wil VanLoh, President and CEO of Quantum. "With the increased demand for natural gas in the United States and the shifting geographies of North American natural gas supply basins and demand loads, well-placed storage will be vital to support the operational efficiency of our natural gas pipeline grid. Triton has built a highly qualified team with extensive knowledge of the natural gas storage industry, and we look forward to a successful future together in this space."

Triton is led by Lawyer and Bickle, each of whom have significant experience in the natural gas storage industry, having collectively developed, operated, financed or acquired more than 200 billion cubic feet of working natural gas storage capacity. This experience includes the successful development of numerous natural gas storage projects, including Bobcat, Lodi, Moss Bluff and Egan Gas Storage. Bickle has previously founded and successfully managed several companies in the midstream sector, including Haddington Ventures, Market Hub Partners and Tejas Power Corporation.

"We are very encouraged by the prospects we see in the natural gas storage space and believe Triton Energy Partners will have tremendous access to attractive development and acquisition opportunities," said Lawyer. "Furthermore, we are pleased to be building a company with Quantum Energy Partners, a strong investment partner who fully understands the dynamics of our business."

Quantum Energy Partners, founded in 1998, is an investment firm specializing in the energy industry with over $3.2 billion in capital under management. Quantum targets investment opportunities in sectors where it has domain expertise, including oil and gas exploration and production, midstream and oilfield services and equipment. On a more select basis, Quantum may also invest in companies that are engaged in coal, power generation and transmission, and renewable and alternative energy.

For more information on Triton, please contact Larry Lawyer at llawyer@triton-ep.com or (713) 403-6460 or visit the company's website at www.tritonenergypartners.com.

For more information on Quantum, please contact either Scott Soler or Ben Stamets at (713) 225-4800 or visit Quantum's website at www.quantumep.com.

Source: Business Wire

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