Quantum Energy Partners and Tug Hill, Inc. has formed a partnership (“THQ" or the "Partnership") to engage in the acquisition, development and exploitation of conventional and unconventional oil and gas assets in certain North American basins. The Partnership will be supported by an initial $450 million equity commitment from Quantum and Tug Hill.
Michael G. Radler (Radler) founded Tug Hill in 2007 and serves as its President and Chief Executive Officer. In 2007, Tug Hill partnered with Chief Oil & Gas (Chief) and collectively built a land position in excess of 600,000 acres in the Marcellus shale. Radler served as the interim Chief Operating Officer at Chief from 2009 to 2012 as the two companies developed and monetized portions of their Marcellus shale acreage. Tug Hill has participated in over 750 Marcellus shale wells to date and plans to continue to participate in the drilling and development of its Marcellus assets. Tug Hill will continue to manage its existing Marcellus and legacy properties outside of the Partnership.