North Hudson partners with Split Rock Resources
North Hudson Resource Partners, its affiliates and Split Rock Resources, announced the expansion of its oil and gas investment partnership with $140 million in total capital commitments. Split Rock’s objective is to acquire oil and gas assets comprised of non-operated working interests in all phases of the well life-cycle including permitted wells, drilled but uncompleted wells, and producing wells in the DJ Basin. To date, Split Rock has acquired interests or participated in the drilling of over 190 horizontal wells.
Split Rock will continue to partner with top-tier operators to optimize their capital budgets and the development of their assets in the DJ Basin. The Company’s regional experience and in-house expertise allow it to assess and close transactions efficiently to accommodate the time pressures associated with operators’ well proposal and election decisions. “We are excited about the quality of operators and the opportunity set in the DJ Basin,” stated Split Rock Founder and CEO Jake Bailey, “North Hudson is the optimal capital provider and strategic partner to provide the resources to implement our strategy – we are pleased to expand our partnership.”
“The North Hudson investment team has extensive experience investing in the DJ Basin and believes a significant opportunity exists in a direct wellbore strategy given the underlying strong well economics and the current market dislocations,” said Mark Bisso, Managing Partner of North Hudson. “Mr. Bailey brings considerable experience, resources, and regional relationships that are required to make Split Rock the partner of choice for DJ Basin operators.”
A Kirkland & Ellis team led by partners Shubi Arora and Jhett Nelson advised North Hudson in the formation and expansion of Split Rock Resources.
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