Tempe, Az.鈥� Quantum Energy, Inc., the parent company of Dominion Energy Processing Group, Inc., which has proposed a light oil refinery at Stoughton, has made some corporate moves affecting both its North Dakota refinery venture and its corporate leadership.
On May 11 Quantum announced via press release that it now owns 100 per cent of Quantum Native Processing Partners, LLC (QNPP), having acquired the 50 per cent ownership interest from Native Son Refinery, Inc. (NSR). QNPP was formed by Quantum and NSR as a 50/50 joint venture in 2015 and Quantum has now acquired the NSR 50 per cent interest to own 100 per cent of QNPP. This acquisition was accomplished by means of a share exchange agreement whereby Quantum acquired 100 per cent of the stock of Native Son Refinery, Inc.
Quantum鈥檚 website notes, 鈥淨uantum Native Processing Partners, LLC, a joint venture formed with Native Son Refining, LLC, a Woodlands, Texas, subsidiary of Native Son Holdings, LLC, has been formed to develop a 40,000 bpd refinery in Berthold, North Dakota.鈥�
Quantum has also announced that NSR鈥檚 Robert L. Monday has been named as the chief executive officer (CEO) of Quantum and has been appointed to the board of directors. Quantum鈥檚 chairman, Stanley F. Wilson, will remain on the board with Monday and will serve as president and COO.
Monday has also been named as CEO of the Quantum fuel trading and petroleum marketing subsidiary, FTPM Resources, Inc. and will manage commodities trading transactions within an industry relationship structured with a Native Son Holdings, LLC. branded affiliate entity.
鈥淲e are pleased to have consolidated QNPP and welcome the strength and diversity of Mr. Monday鈥檚 background and experience to the Quantum team,鈥� said Stan Wilson, Quantum Chairman.
Bloomberg.com鈥檚 executive profile of Robert L. Monday states, 鈥淢r. Robert L. Monday has been chief executive officer, president and chief operating officer of Quantum Energy, Inc. since May 11, 2017. Mr. Monday served as managing director of acquisitions at The Broe Group. Mr. Monday has over forty years of diverse real estate development, capital formation and acquisitions experience to the Quantum team. He served for six years as a managing partner of the Occidental Equities Corporation that included management of Occidental Land聽Research partnership projects comprising mixed-use, office, industrial parks, retail, multi-family, town homes, condominiums and single family residential developments in California and Nevada. He served for eight years as a managing principal of the Eagle Companies in which he oversaw the development of two large master planned communities in Colorado Springs.
鈥淢r. Monday has assembled a team of engineers, developers and investors to form Native Son Holdings, LLC and its group of companies including Native Son Refining, LLC based in the Houston suburb of The Woodlands, Texas. He has been director of Quantum Energy, Inc. since May 11, 2017. He served as member of
advisory board of Quantum Energy, Inc. since July 16, 2015. Mr. Monday is a very welcome addition to the Quantum team as Quantum works to develop its refinery sites under two year option agreements with landowners in Baker, MT, Fairview, MT, Stanley, ND and Berthold, ND.鈥�
