Quantum Energy-backed HEQ Deepwater completed the acquisition of a 20% stake in Shenandoah development from Beacon Offshore Energy II.

Quantum Energy-backed HEQ Deepwater, an energy company that focused on the acquisition of the deepwater gulf, completed the acquisition of a 20% stake in Shenandoah development from Beacon Offshore Energy II, an exploration and production company. Financial terms were not disclosed. “Our partnership with Quantum provides HEQ Deepwater the opportunity to be a meaningful participant in the full-cycle development of world-class assets across the Deepwater Gulf of Mexico. Houston Energy will continue to generate high-quality exploration prospects for our industry partners, but HEQ Deepwater will allow us to be a multi-dimensional partner for operators throughout the development cycle of an asset. We would like to congratulate Scott Gutterman, Marc Hensel and the entire Beacon team, as well as Navitas Petroleum, for their accomplishment of sanctioning Shenandoah, and we look forward to working together to bring the project to first oil,” Ron Neal, HEQ Deepwater CEO.