– North Hudson Resource Partners LP, a Houston-based energy investment firm, announced the final closing of its fifth non-operated oil and gas fund, North Hudson Production Partners V LP.
– The fund closed at its hard cap with $344 million in equity commitments, including the general partner’s commitment.
– With this closing, North Hudson’s total assets under management have reached $1.4 billion.
– Production Partners V will target a wide range of non-operated acquisitions in the U.S. and Canada, with deal sizes ranging from $1 million to over $150 million.
– Expected transactions include:
Drilling partnerships with operators
Joint-bid acquisitions with public and private companies
Acquisitions of AFEs, acreage, minerals, and PDP assets
– The fund, potentially alongside other North Hudson affiliates, may pursue larger-scale transactions.
– North Hudson will maintain its partnership with Fortuna Operating, which manages asset acquisition and development for several North Hudson funds.
– Over the past five years, North Hudson’s non-operated funds have acquired over $1.3 billion in assets and partnered with more than 30 operators.
– The firm aims to build on the success of its four previous non-operated funds through Production Partners V.
– Mark Bisso, Managing Partner, emphasized the firm’s creative, low-risk capital deployment approach and its value as a partner to operators and working interest owners.
– North Hudson’s asset base includes over 1,600 horizontal non-operated wells.
