FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL OMB Number: 3235-0287 Expires: January 31, 2005 Estimated average burden hours per response... 0.5

(Print or Type Responses)

1. Name and Address of Reporting Person * FR X Offshore GP LTD   2. Issuer Name and Ticker or Trading Symbol Quintana Maritime LTD [QMAR] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director __X__ 10% Owner _____ Officer (give title below) __X__ Other (specify below) See Remark (1) (Last) (First) (Middle) C/O FIRST RESERVE CORPORATION, ONE LAFAYETTE PLACE, THIRD FL. 3. Date of Earliest Transaction (Month/Day/Year) 05/15/2006 (Street) GREENWICH, CT 06830 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) ___ Form filed by One Reporting Person _X_ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 05/15/2006   A   3,500 (1) A (1) 3,087,895 (2) I (3) (4) See FN (3) (4)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
FR X Offshore GP LTD C/O FIRST RESERVE CORPORATION ONE LAFAYETTE PLACE, THIRD FL. GREENWICH, CT 06830	X	X		See Remark (1)
FR X Offshore GP, L.P. C/O FIRST RESERVE CORPORATION ONE LAFAYETTE PLACE, THIRD FL. GREENWICH, CT 06830	X	X		See Remark (1)
FR X Offshore, L.P. C/O FIRST RESERVE CORPORATION ONE LAFAYETTE PLACE, THIRD FL. GREENWICH, CT 06830	X	X		See Remark (1)
EDWARDS JOSEPH R ONE LAFAYETTE PLACE THIRD FLOOR GREENWICH, CT 06830	X

Signatures

Anne E. Gold		08/15/2006
**Signature of Reporting Person		Date
Anne E. Gold, In the Capacity Described in Remark (2)		08/15/2006
**Signature of Reporting Person		Date
Anne E. Gold, In the Capacity Described in Remark (2)		08/15/2006
**Signature of Reporting Person		Date
Anne E. Gold, Attorney-in-Fact		08/15/2006
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Effective May 15, 2006, the Board of Directors of the Company awarded these shares of restricted stock under the Company's 2005 Stock Incentive Plan to Joseph R. Edwards, a director of the Issuer. The stock will vest on February 15, 2010.
(2)	Consists of 15,500 shares of restricted common stock issued to Joseph R. Edwards, and 3,072,395 shares of common stock owned by FR X Offshore, L.P.
(3)	This Form 4 is filed on behalf of FR X Offshore GP Limited ("Offshore Ltd"), FR X Offshore GP, L.P. ("Offshore GP"), FR X Offshore, L.P. ("Offshore LP" and collectively with Offshore Ltd and Offshore GP, the "Fund Entities"), and Joseph R. Edwards. Offshore GP is the general partner of Offshore LP and may be deemed to share beneficial ownership of the shares of Common Stock beneficially owned by Offshore LP. Offshore Ltd., as the general partner of Offshore GP, may also be deemed to share beneficial ownership of the shares of Common Stock beneficially owned by Offshore LP.
(4)	The Fund Entities are entitled to a portion of the profits from the sale of securities held by Mr. Edwards, and therefore the Fund Entities share beneficial ownership of the securities issued to Mr. Edwards as reported herein. Other than the shares he holds directly, Mr. Edwards disclaims beneficial ownership of securities of the Issuer beneficially owned by the Fund Entities.
Remarks: (1) The Fund Entities (as defined in Footnote (3)), have included the designation of "Director" in order to satisfy potential filing obligations in the event any such Fund Entities are deemed to be a director of the Issuer by deputization. (2) FR X Offshore GP Limited, by Anne E. Gold, Assistant Secretary, is signing for itself as the designated filer, as well as in the capacity of general partner of FR X Offshore GP, L.P.  FR X Offshore GP, L.P. by Anne E. Gold, is signing in its capacity as general partner of FR X Offshore, L.P.  Joseph R. Edwards, by Anne E. Gold, Attorney-in-Fact (See Attached Power of Attorney).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.