North Hudson Launches $275 Million Oil, Gas Credit Fund
Houston’s North Hudson Resource Partners LP launched its inaugural credit fund, North Hudson Energy...
Houston’s North Hudson Resource Partners LP launched its inaugural credit fund, North Hudson Energy Credit Partners LP, the energy investment firm said on Jan. 31 in a press release.
The credit fund will deploy $275 million of capital to support middle-market North American onshore oil and gas production companies. North Hudson is offering senior secured loans to refinance existing debt, finance acquisitions and fund development. North Hudson Energy Credit will primarily provide senior secured loans between $20 million and $50 million as well as flexible capital solutions for special situations.
North Hudson said it has more than $850 million of assets under management and through its private equity platforms own non-operated and operated oil and gas assets. Its current portfolio includes interests in over 4,500 wells primarily located in the Permian, Denver-Julesburg and San Juan basins and the Haynesville Shale.
Natural-gas futures extend gains as U.S. supplies decline
The ...
The U.S. Energy Information Administration reported on Thursday that domestic natural-gas supplies fell by 151 billion cubic feet for the week ended Jan. 27.That compared with an average analyst forecast for a decline of 146 billion cubic feet, according to a survey conducted by S&P Global Commodity Insights. The latest data, however, included a revision to stocks for the week ended Jan. 20, the EIA said. It upwardly revised that week’s total to 2.734 trillion cubic feet from 2.729 trillion. Total working gas stocks in storage for the latest week were at 2.583 trillion cubic feet, up 222 billion cubic feet from a year ago and 163 billion cubic feet above the five-year average, the government said. Following the data, March natural gas NGH23, -0.53% was up 6.9 cents, or 2.8%, at $2.537 per million British thermal units on the New York Mercantile Exchange. Prices traded at $2.535 before the supply data.
Nasdaq ends up 3%, extending rally as Meta stock lifts tech sector
The Nasdaq posted its best day of gains since November on Thursday,...
The Nasdaq posted its best day of gains since November on Thursday, as stock-market bulls cheered the Federal Reserve's decision a day before to raise interest rates by a smaller 25 basis point increment and embraced hints that a pause in rate hikes could be coming in a few months.The S&P 500 index SPX, 1.47% rose about 1.5%, while the Nasdaq Composite Index COMP, 3.25% jumped 3.3%, its best daily percentage gain since Nov. 30, according to Dow Jones Market Index. Both stock-market gauges surged in the final moments of trade. On the flip side, the Dow Jones Industrial Average DJIA, -0.11% shed about 39 points, or 0.1%, ending near 34,053, after posting back-to-back gains this week.
ConocoPhillips joins rivals with bumper profit on higher energy prices
ConocoPhillips said on Thursday profit more than doubled to $18.7...
ConocoPhillips said on Thursday profit more than doubled to $18.7 billion in 2022, the highest since the company spun off its refining business in 2012, as the oil producer benefited from higher prices on tight supplies and robust demand.
Houston-based ConocoPhillips also declared a variable dividend of 60 cents, and said it plans to return $11 billion to shareholders in 2023.
ConocoPhillips expects capital expenditure to be between $10.7 billion and $11.3 billion this year which includes spending on its Willow oil and gas drilling project in Alaska, which received scaled-back support from the Biden administration on Wednesday.
