Following the sale of QR Energy LP to Breitburn Energy Partners LP, QR Energy CEO Alan Smith has formed a new company, Houston-based Rockcliff Energy LLC, of which he is president and CEO, according to the Houston Business Journal. Rockcliff has received $350 million in funding from Quantum Energy Partners.
The new company plans to raise approximately $700 million by May.
Rockcliff will focus on both conventional and unconventional production, which will begin in northwestern Louisiana. Placing more of an emphasis on unconventional operations, the company is also looking for opportunities in the Permian Basin and Mid-Continent areas.