Houston-based private equity firm Quantum Energy Partners has formed Renaissance Offshore with offshore energy industry veteran Jeffrey Soine to acquire and redevelop legacy oil-producing properties in the shallow water Gulf of Mexico.
The recent shift in focus of the majors and large independents to unconventional resources, and continued high oil price, provides market conditions ripe "for a well funded, focused acquirer to pursue opportunities on the Gulf of Mexico shelf," Soine said.
The company recently acquired the Ship Shoal 266 field, located approximately 75 miles offshore Louisiana in an average 180 feet of water, from Chevron subsidiary Union Oil Company of California.
The acquisition provides the company with a solid production base, and offers "numerous opportunities to increase production over the near term," the company said in a statement.
Soine, who previously served as executive vice president of Australia-based Woodside Energy's international business unit, will serve as chief executive officer and president of Renaissance. He also served as acquisitions manager for W&T Offshore prior to joining Woodside.
Brian Romere will join Renaissance as chief financial officer and co-founder. He previously played the same role at Anglo Suisse Offshore Partners and King Ranch Oil & Gas.
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