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Quantum Energy to form $1 billion oil and gas entity managed by Linn — Reuters

(Reuters) – Private equity firm Quantum Energy Partners said it would invest up to $1 billion in a new entity to buy and develop oil and gas assets that would be managed by Linn Energy LLC (LINE.O:Quote, Profile, Research, Stock Buzz).

Linn said on Tuesday it would be able to participate in all acquisitions of oil and gas assets with direct working interest of 15-50 percent.