Prairie Energy Expands Footprint with Acquisition of Piceance Basin Non-Op Interests

8/19/2024

Denver — August 19, 2024 — Prairie Energy Partners, focused on acquiring mineral and non-op interests across U.S. shale basins, today announces its participation in QB Energy’s acquisition of Piceance Basin interests in northwest Colorado from Caerus Oil and Gas.  Both Prairie and QB are led by CEO Roger Biemans.  Mr. Biemans has a long history of leading both shale-oriented and Rocky Mountain-oriented oil and gas companies.

QB Energy is acquiring the producing upstream assets, gathering and compression midstream assets, approximately 600,000 acres, and all other assets owned by Caerus in the Piceance Basin.  QB Energy is a newly formed company established by Mr. Biemans and Quantum Energy Partners.  Caerus was owned by a private investor group including Oaktree Capital Management, The Anschutz Corporation, and Old Ironsides Energy.

Prairie is buying direct non-operated interests in the assets and is a separate company from QB Energy. Inclusive of this transaction, Prairie has acquired approximately $200 million in mineral, royalty, and non-op interests in the United States.

Jeffrey Scofield, a Managing Director at Lime Rock Partners, said, “When we partnered with Roger, we not only got his and his team’s technical acumen as a buyer of assets but also his long operating history—and the options that opened for the Prairie team. We’re excited to partner with him in the Piceance assets whose development he’ll lead through QB.”

Prairie continues to actively acquire mineral, royalty, and non-op interests in the Delaware Basin, Eagle Ford Shale, and other areas in the United States.

For more information on Prairie, see www.prairieep.com.

Since its inception in 1998, Lime Rock Management has raised over $10.0 billion in private equity funds and affiliated co-investment vehicles for investment in the energy industry through three strategies: Lime Rock Partners, investors of growth capital in E&P and oilfield services companies;  Lime Rock Resources, acquirers and operators of oil and gas properties in the United States; and Lime Rock New Energy, investors of growth capital in products and services companies in the energy transition.  For more information, please visit: www.lrpartners.com.

Back to News