TNM Resources, a Permian Basin operator, has secured an equity commitment of $133m from certain affiliates of North Hudson Resource Partners.
TNM is a Houston-based exploration and production company with two key assets in the Permian Basin, located in the Delaware Basin and Central Basin Platform of West Texas.
TNM anticipates utilizing the commitment to continue its growth strategy and remain active in acquiring additional leasehold, producing assets and maintaining an active drilling program.
TNM is led by an experienced team with extensive experience working in the Permian Basin and acquiring and exploiting multiple oil and gas assets in the Delaware Basin and Central Basin Platform.
Aaron Davis, TNM’s President and CEO, is a petroleum engineer and most recently led Fortuna Resources Holdings’ (“Fortuna”) acquisition and development strategy in the Delaware Basin. Aaron and his partners, along with the principals of North Hudson, founded TNM after Fortuna’s successful exit in late 2016.
Prior to founding Fortuna, Mr. Davis was with Occidental Petroleum Corporation where he oversaw multiple Permian Basin drilling and leasing programs.
Aaron Davis said: “We are looking forward to continuing our relationship with the North Hudson investment team.
“The principals of North Hudson have been valuable partners over the last several years and bring the financial insight, resources, and investment experience to help us exploit and maximize the value of our growing asset base.”
North Hudson managing member Mark Bisso said: “We are very excited to continue our partnership with Aaron and his team.
“The TNM management team has extensive regional A&D experience, strong technical expertise, and proven operational capabilities which are critical as we continue to pursue TNM’s acquisition and development strategy.”
Source: Company Press Release