Brock Hudson, Managing Director at Carl Marks Advisors, has over thirty years of oil and gas asset management and financial transaction experience including seventeen years in oil and gas asset investment management and twelve years as a reserve-base energy lender.
Private equity firms are looking to sell companies and land they own in the second-largest U.S. natural gas producing formation, where values have surged along with gas prices worldwide and booming U.S. exports of liquefied natural gas (LNG).
Oil and gas companies plunged over $156 billion into corporate takeovers and land deals during the second U.S. shale boom, in a massive bet that good times would continue and crude prices would rise. Many of those deals have become financial albatrosses.
"They were planning a 2020 exit three years before and then 2020 just didn't materialize," said Brock Hudson, managing director at Carl Marks Advisors, an investment bank that provides financial and operational advisory services.