Quantum Capital Acquires Assets from Caerus Oil & Gas for $1.8B

Quantum Capital Group, a Houston-based private equity firm, has purchased certain assets from Denver-based Caerus Oil and Gas through two separate portfolio companies for $1.8 billion.

The acquisition includes Caerus’ upstream and midstream assets from the Piceance Basin in western Colorado and the Uinta Basin in eastern Utah. The agreement also involves the assumption of Caerus’ asset-backed securities and other liabilities.

QB Energy, a Quantum Capital subsidiary, will acquire approximately 600,000 acres, and all other assets owned by Caerus in the Piceance Basin, while another subsidiary, KODA Resources, will acquire approximately 160,000 acres, and all other assets owned by Caerus in the Uinta Basin.

QB Energy is a newly formed Quantum portfolio company established in partnership with Roger Biemans, an energy entrepreneur who has built and sold multiple portfolio companies with Quantum over the past 18 years. Biemans will serve as president and CEO of QB Energy. KODA is led by president and CEO Osman Apaydin and executive chairman Kurt Doerr.

“The Caerus assets provide access to some of the largest natural gas resources in the western markets, which have experienced repeated, localized energy shortages in recent years,” said Chuck Davidson, Partner at Quantum.

Caerus is owned by a private investor group including Oaktree Capital Management, The Anschutz Corporation, and Old Ironsides Energy.

Founded in 1998, Quantum is a provider of private equity, credit, and venture capital to the global energy and energy transition industry, having managed together with its affiliates over $27 billion in equity commitments since inception.