HOUSTON, TEXAS (March 2006) – Quintana Capital Group, L.P. today announced that Quintana Energy Partners, L.P. and its affiliated partnerships (collectively, "Quintana"), alongside Tom Murphy, have founded Quintana WellPro S.A. (“Quintana WellPro” or the "Company") and certain related entities. Quintana WellPro is a workover and drilling services provider focused on the Argentine oil and gas market.
“We first met Tom when Quintana operated concessions in Tierra del Fuego during the 1990s, and utilized the drilling equipment he operated for Key Energy,” stated Quintana Managing Director Steve Thompson. Tom Murphy, the Company’s Founder, CEO and Chairman, said, “Quintana is the right partner – combining an operational emphasis to their investment practice. Our management team, field crews and customers will recognize the Quintana brand.”
Quintana WellPro, headquartered in Buenos Aires, is underway with an initial capital program to assemble five workover rigs and one drilling rig. “As the Company secures contracts with customers for equipment, we intend to invest more and continue building the fleet,” stated Will Robertson, Quintana’s Managing Director. Tom added, “The plan comprises operations in the key producing regions, namely surrounding Neuquen, Comodoro Rivadavia, Las Heras, Rio Grande and Punta Arenas. Our crews are experienced, equipment is new, and our focus is on safety and efficiency.”
Warren Hawkins, Managing Director of Quintana, confirmed, “Tom has spent twenty plus years in the international drilling and workover business. We look forward to helping to build a first-class organization and service provider.”
Certain statements in this press release include statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect," "plan," "should" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements.
Contact for Quintana WellPro S.A.: Tom Murphy Chairman and Chief Executive Officer 54-11-4815-7726 www.quintanawellpro.com
Contact for Quintana Capital Group, L.P.: Loren Soetenga Chief Operating Officer 713-751-7527
