Vickery Energy Partners, a portfolio company of Quantum Capital Group, has closed on the acquisition of Tribune Resources, LLC from Tribune Resources. The transaction includes assets located primarily in Wetzel, Tyler, Harrison and Doddridge counties, West Virginia, spanning a total of approximately 38,000 net acres with more than 200 million cubic feet equivalent per day (MMcfe/d) of net production.

Vickery is led by former executives of Tug Hill, including Sean Willis as President and Chief Executive Officer and Daniel Rowe as Chief Financial Officer. In August of 2023, Quantum sold Tug Hill Operating and XcL Midstream’s portfolio of upstream and midstream assets located in the Appalachian Basin to EQT Corporation for a total consideration of approximately $5.0 billion.

“We are pleased to acquire these high-quality assets with development inventory in both the wet and dry windows of the Marcellus Shale. This transaction provides Vickery with a significant production base and multiple years of development runway, allowing us to apply our expertise and demonstrated execution capabilities to grow production, build a business of scale, and create value for our investors,” said Mr. Willis.

“Quantum is pleased to support Vickery in this strategic acquisition. The Tribune assets provide a high-quality platform from which Vickery can continue to build a premier Appalachian natural gas company. We look forward to working alongside the Vickery team to enhance the value of these assets, deliver strong returns for our investors, and help supply reliable, affordable energy to the market,” said Tom Field, Partner at Quantum.

“I am incredibly proud of how our team has scaled these assets and delivered shareholder value since taking over in 2018, despite a volatile market,” said Gus Zepernick, President and CEO of Tribune Resources. “We are grateful to our employees, board, shareholders, and partners for their dedicated support. We are confident Vickery will build upon this foundation and wish them nothing but success in their future operations.”

KeyFacts Energy: Acquisitions & Mergers news