Quantum said to strike US$1.8bil deal for Caerus

The deal underscores how buyout firms are increasingly eager to put money work in the oil and gas sector. — Bloomberg

NEW YORK: Quantum Capital Group has agreed to buy Caerus Oil and Gas in a deal that values the Rocky Mountain energy explorer at US$1.8bil, people familiar with the matter say, as private equity firms ramp up buying in the oil patch.

Energy-focused Quantum is buying Caerus from backers Oaktree Capital Management, Anschutz Investment Co and Old Ironsides Energy, according to the people, who asked to not be identified discussing confidential information.