Quantum Energy Partners and the Bison Oil & Gas management team have committed more than $500 million to launch another acquisition-minded explorer that would be focused on the Denver-Julesburg (DJ) Basin in Colorado and Wyoming.

DJ Prices

Bison has operated in the DJ since 2015, forming and monetizing several partnerships. Last year Civitas Resources Inc., the largest DJ exploration and production (E&P) company, snapped up prior entity Bison Oil & Gas II LLC in a deal worth an estimated $346 million.

Newly formed Bison Oil & Gas Partners IV LLC would build on the success of the prior E&P entities, the partners said. The goal is to acquire and responsibly develop oil and natural gas assets.

Since the E&P’s inception, “Bison IV has closed multiple acquisitions covering more than...