Investment Summary

The Carlyle Group, Riverstone Holdings, Lime Rock Partners and Quantum Energy Partners Invest In Vantage Energy

On December 19, 2006, private equity firms The Carlyle Group, Riverstone Holdings, Lime Rock Partners and Quantum Energy Partners invested in oil/gas exploration company Vantage Energy for 470M USD

Investment Highlights
  • This is The Carlyle Group’s 10th, Riverstone Holdings’ 11th, Lime Rock Partners’ 11th and Quantum Energy Partners’ 20th transaction in the Oil/Gas Exploration sector.
  • This is The Carlyle Group’s 88th, Riverstone Holdings’ 6th, Lime Rock Partners’ 2nd and Quantum Energy Partners’ largest (disclosed) transaction.
  • This is The Carlyle Group’s 154th, Riverstone Holdings’ 27th, Lime Rock Partners’ 14th and Quantum Energy Partners’ 20th transaction in the United States.
  • This is The Carlyle Group’s 4th, Riverstone Holdings’ 1st, Lime Rock Partners’ 2nd and Quantum Energy Partners’ 3rd transaction in Colorado.
Investment Fate
  • Vantage Energy was sold to a publicly-traded strategic buyer in 2016 for 2.7B USD.

Investment Summary

Date 2006-12-19
Target Vantage Energy
Sector Oil/Gas Exploration
Investor(s) The Carlyle Group
Riverstone Holdings
Lime Rock Partners
Quantum Energy Partners
Deal Type Stake Purchase
Deal Value 470M USD

Target

Vantage Energy

Englewood, Colorado, United States
Vantage Energy is a growth-oriented, independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties in the United States, with a focus on the Appalachian basin.

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Investor(S) 4

Investor

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 260 of 744
Sector (Oil/Gas Exploration) 10 of 17
Type (Stake Purchase) 14 of 73
State (Colorado) 4 of 6
Country (United States) 154 of 349
Year (2006) 51 of 51
Size (of disclosed) 88 of 137
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-01 Honghua Group

Chengdu, China

Honghua Group is the largest land rig manufacturers in the world, specializing in the research, design and production of onshore rigs ranging from 2,000 m – 7,000 m of drilling depth. In addition to manufacturing drilling rigs and rig parts / components (e.g., mud pumps, masts, substructures, drawworks, drive systems and solids control systems), the Company offers drilling-related training and after-sales support services to its customers. Honghua Group was founded in 1997 and is based in Chengdu, China.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-01 Media Properties Holdings

New York, New York, United States

Media Properties Holdings, Inc. (dba MPH) manages and owns an array of media companies that provide automated and programmatic buying, lead generation and pay-for-performance advertising.

Buy -
Investor

Riverstone Holdings

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 40.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Riverstone Holdings is a large specialist asset management and private equity firm focused on opportunities in the energy and power industry. Specific areas of interest include oil & gas exploration, midstream transportation/logistics, electric generation, energy & power service, power infrastructure, and energy & power technology. Riverstone Holdings was formed in 2000 and is based in New York, New York.


DEAL STATS #
Overall 33 of 106
Sector (Oil/Gas Exploration) 11 of 42
Type (Stake Purchase) 4 of 11
State (Colorado) 1 of 4
Country (United States) 27 of 78
Year (2006) 14 of 14
Size (of disclosed) 6 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-01 Honghua Group

Chengdu, China

Honghua Group is the largest land rig manufacturers in the world, specializing in the research, design and production of onshore rigs ranging from 2,000 m – 7,000 m of drilling depth. In addition to manufacturing drilling rigs and rig parts / components (e.g., mud pumps, masts, substructures, drawworks, drive systems and solids control systems), the Company offers drilling-related training and after-sales support services to its customers. Honghua Group was founded in 1997 and is based in Chengdu, China.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-12 ThermaSource

Santa Rosa, California, United States

ThermaSource, Inc. provides domestic and international geothermal drilling and completion services through a variety of business units including cementing, on-site rig monitoring, mud logging, engineering project management, and drilling rigs with operating crews. ThermaSource was established in 1980 and is based in Santa Rosa, California.

Buy -
Investor

Lime Rock Partners

Westport, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 10.4B USD
Size Mega
Type Sector Focused
DESCRIPTION

Lime Rock Partners is a private investment firm focused on growth capital investments in the energy industry. Specifically, Lime Rock looks for companies engaged in exploration & production, energy service, and oil service technology in North America and Europe. Lime Rock's target investment size is $50 to $150 million in businesses valued up to $500 million. Lime Rock Partners was formed in 1998 and is affiliated with Lime Rock Resources. Lime Rock Partners has offices in Westport, Connecticut; Aberdeen, Scotland; and Houston, Texas.


DEAL STATS #
Overall 31 of 92
Sector (Oil/Gas Exploration) 11 of 40
Type (Stake Purchase) 4 of 6
State (Colorado) 2 of 5
Country (United States) 14 of 51
Year (2006) 6 of 6
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-14 NQL Energy Services

Nisku, Alberta, Canada

NQL Energy Services was a provider of downhole tools, services and technology used in oil and gas drilling applications, in particular its BlackMax line of downhole mud motors.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-01 TWMA

Aberdeen, United Kingdom

TWMA is a provider of fully integrated waste management services to the global oil and gas industry and environmental solutions that reduce drilling costs and maximise operational effectiveness. The company has offices and service bases in Europe, the Middle East, North Africa, West Africa and the Americas. TWMA was founded in 2000 and is based in Aberdeen, United Kingdom.

Buy -
Investor

Quantum Energy Partners

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 17.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Quantum Energy Partners is a specialist private equity firm focused on investments within the energy sector. Quantum's primary focus is on opportunities within the oil and gas upstream and midstream sectors, however, the Firm will also consider investments in oil field services and equipment, coal, power generation and transmission, and renewable/alternative energy. Quantum's target investment size is $100 to $400 million. Quantum invests in start-ups as well as established companies needing expansion capital. Quantum Energy Partners was formed in 1998 and is headquartered in Houston, Texas.


DEAL STATS #
Overall 24 of 89
Sector (Oil/Gas Exploration) 20 of 58
Type (Stake Purchase) 2 of 10
State (Colorado) 3 of 11
Country (United States) 20 of 78
Year (2006) 3 of 3
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-03-13 Sequoia Resources

Houston, Texas, United States

Sequoia Resources, LP is a Houston, Texas based oil and gas company focused on growing its reserve base through the acquisition and development of oil and gas reserves in South Texas and along the Texas Gulf .

Buy $19M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-18 Tecton Energy

Houston, Texas, United States

Tecton Energy, LLC is a Houston, TX based oil and gas company focused on growing its reserve base through the acquisition and development of properties in unconventional tight gas basins in the Rocky Mountain region of the western United States and Canada.

Buy $132M