Latest news with #NorthHudson
CBS News
03-06-2025
- Business
- CBS News
How have tariffs impacted fireworks prices?
Our nation's birthday is just about a month away, and the cost for a key element to the fun is now "up in the air." As Americans plan July Fourth festivities, WCCO wanted to know how tariffs have impacted fireworks prices. A rainbow of excitement adorns the shelves at Fireworks Nation in North Hudson, Wisconsin. "Every year the product gets better and better, and safer," said Anders Nelson, owner of Fireworks Nation. He says customers have asked him if the price of his fireworks has gone up amid President Trump's trade war with China. "We're not raising our prices at Fireworks Nation," he said confidently. "Some of our shipments were affected by the tariffs, and we definitely saw our costs are up this year. Shipping costs are up, but we're holding our prices." While their prices hold steady, other retailers might raise them, according to Julie Heckman. She's the executive director of the American Pyrotechnics Association. "(Price hikes) will depend on whether the retailer got their product here prior to the tariff hikes and if not, how much can they absorb versus what do they need to pass on to the consumer," said Heckman. She says consumer fireworks, the kind people buy at the store, already had a 5.3% tariff. It jumped to 20% in early March as the trade war got started. By April 9, reciprocal tariffs were pushed as high as 145%. "It hit at the absolute worst time when all of our products are trying to get here from China for the Fourth of July," said Heckman. Nelson and other retailers typically order their fireworks from China a year in advance. They're produced in the fall and winter, then shipped in the months leading up to the next Fourth of July. "In our case, we had ships on the water, and so, of course, we had to take them in, so we did have some tariff charges or shipping charges. But all of the ones that had not been shipped, we put a halt on the orders," said Nelson. President Trump's 90-day pause on the tariffs was helpful, but Heckman said it kick-started other issues. "When the tariffs were reduced a couple of weeks ago to 30%, many of the importers said, 'Go ahead, put my containers on the water.' But the issue will be, will they get here in time for the Fourth of July?" said Heckman. Most of Nelson's current product arrived before the new tariffs hit, so he's not worried about the upcoming holiday. "We're a volume dealer. We are more than a year ahead in our purchasing, and so we've been building our inventories," said Nelson. There is industry-wide concern regarding 2026, when the U.S. celebrates its 250th birthday. "The demand is going to be very high, plus [Fourth of July] falls on a Saturday, a weekend," said Nelson. Fireworks production in China came to a halt during the height of the tariffs, said Heckman, including workers being laid off. Production resumed once the tariffs were paused, but the delay created a potential supply chain problem that lingers into next year. "We are very concerned about 2026 because we lost vital manufacturing production time," said Heckman. Given the uncertainty with the trade war and how tariffs could impact prices in the months ahead, Heckman advises people to shop early. "Don't be surprised if there are some shortages. Shelves are not going to be bare, but there might just be a certain item that you're used to getting that maybe that retailer doesn't have in stock this year," said Heckman. Nelson wants people to shop smart and seek the best prices. More importantly, he wants them to make sure they're being smart about how they use the fireworks. "When you come together and you have your party, just make certain that you're safe. Read the labels on the packages and have a great, fun, safe, and happy Fourth of July," said Nelson. Studies show that over 96% of all fireworks in the U.S. come from China. Last year, that amounted to $452 million in product. Heckman would like to see the fireworks industry get a special exemption from heightened tariffs, which she said is what happened during Mr. Trump's first term.
Yahoo
21-05-2025
- Business
- Yahoo
North Hudson Fuels Non-Op Strategy with TXO Deal, $344MM PE Raise
North Hudson Resource Partners is advancing its non-operated strategy in the Williston Basin and beyond. The Houston-based private equity firm closed a fifth non-op fund, North Hudson Production Partners V LP, with $344 million in equity commitments, the firm said May 20. The firm has $1.4 billion in assets under management after the latest closing. The new fundraising announcement follows closely on the heels of an approximately $125 million acquisition in the Williston Basin last week. North Hudson teamed up with TXO Partners LP to acquire Quantum Capital Group-backed White Rock Energy's Elm Coulee assets in North Dakota and Montana for a total of $475 million. North Hudson also has a growing operated strategy. The firm owns LOGOS Resources, among the most active horizontal developers in the San Juan Basin gas play. RELATED Exclusive: PE Firm's Fourth Non-op Fund Targets Permian North Hudson's fifth non-op fund will target acquisitions in the U.S. and Canada, typically ranging between $1 million to over $150 million. But the firm won't rule out large-scale M&A. The firm is pursuing drilling partnerships, joint-bid acquisitions with public and private operators and opportunities to acquire AFEs, acreage, minerals and PDP assets. In the Lower 48, North Hudson currently has interests in the Haynesville and Utica shales and the Permian, Williston, Denver-Julesburg (D-J) and San Juan basins. The firm also has holdings in Canada. North Hudson's latest deal in the Elm Coulee Field is an example of the growing non-op joint-bid acquisition strategy. North Hudson acquired a 30% non-op stake in the White Rock assets, while TXO picked up the 70% controlling interest. The Elm Coulee acquisition is expected to close in the third quarter. The acquisition adds 6,800 boe/d (93% liquids) and proved reserves of 25 MMboe net to TXO, the company said May 13. Production volumes net to North Hudson were not disclosed. It's a historic part of the Williston Basin: On May 26, 2000, the first stimulated horizontal oil well targeting the middle Bakken Formation was landed in Elm Coulee, marking the beginning of the modern Bakken play. 'We believe our significant asset base, which includes over 1,600 horizontal non-operated wells, in addition to our transaction history and network, have made us an effective partner for operators and working interest owners seeking a partner to enhance their assets,' said North Hudson Managing Partner Mark Bisso. Other non-op players, such as Northern Oil & Gas (NOG), are inking similar joint-bid acquisitions with larger operators. NOG has teamed up with publics SM Energy, Vital Energy and Earthstone Energy on Permian and Uinta Basin transactions. RELATED Laying in Wait: San Juan's 'Remarkable' Mancos Shale Oil Wells North Hudson owns LOGOS Resources, the fourteenth-largest natural gas producer in New Mexico. LOGOS produced over 68 Bcf (gross) in New Mexico in 2024, or an average of around 186 MMcf/d, according to state data. LOGOS is the second-largest San Juan gas producer behind Hilcorp Energy, which acquired ConocoPhillips' legacy assets in the basin in 2017. SIMCOE is the third-largest San Juan gas producer and operates a gas asset previously held by supermajor BP. SIMCOE was acquired by German investment firm IKAV in 2020. LOGOS is also expanding drilling into the Colorado side of the basin, Bisso told Hart Energy. The company recently finished drilling its first horizontal gas well in Colorado and plans to drill two additional horizontals this year. Elevated commodity prices are expected to drive increased drilling activity in natural gas basins across the country. Henry Hub forward prices averaged $4.07/MMBtu over the next 12 months; 24-month strip averages $4.13/MMBtu as of May 20. San Juan producers can capture healthy premiums over Henry Hub prices by moving gas to West Coast markets. Western U.S. gas producers are also excited about future demand from new LNG export projects on Mexico's Pacific coast. RELATED The Wall: Uinta, Green River Gas Fills West Coast Supply Gaps Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21-05-2025
- Business
- Yahoo
North Hudson finalises fifth non-operated oil and gas fund
North Hudson Resource Partners, a Houston, US-based energy investment firm, has announced the final closing of its fifth non-operated oil and gas fund, Production Partners V. The fund closed at its hard cap with $344m in equity commitments, including the general partner's commitment, bringing the firm's total assets under management to $1.4bn. Production Partners V will target a broad range of non-operated acquisitions in the US and Canada, with transaction values ranging from $1m to more than $150m. The fund's strategy includes drilling partnerships with operators, joint-bid acquisitions with both public and private companies, and acquisitions of authorised for expenditure, acreage, minerals and proved developed producing assets. North Hudson, potentially in collaboration with other affiliates, may also pursue larger-scale transactions. Managing partner Mark Bisso said: 'We are grateful for the continued support of our investors and our operating partners as we seek to deploy capital in a creative, low-risk approach to oil and gas investment. 'We believe our significant asset base, which includes over 1,600 horizontal non-operated wells, in addition to our transaction history and network, have made us an effective partner for operators and working interest owners seeking a partner to enhance their assets. We look forward to continuing to expand those relationships.' Fortuna Operating will continue its partnership with North Hudson, managing the acquisition and development of assets across multiple North Hudson non-operated funds. Over the past five years, North Hudson's non-operated funds have acquired more than $1.3bn of assets and partnered with over 30 different operators on the development of their assets. With Production Partners V, North Hudson aims to build upon the successes of its four previous non-operated funds. Legal counsel for Production Partners V was provided by Kirkland & Ellis. "North Hudson finalises fifth non-operated oil and gas fund" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
TXO Partners, L.P., Announces Entry Into Definitive Agreement for Additional Elm Coulee Properties
FORT WORTH, Texas, May 13, 2025--(BUSINESS WIRE)--TXO Partners, L.P. (NYSE: TXO) ("TXO") announced today that it has entered into a purchase agreement with White Rock Energy, LLC ("White Rock"), a portfolio company of Quantum Capital Group, to purchase producing assets in the Elm Coulee field in the Williston Basin of Montana and North Dakota. The total cash consideration by TXO will be approximately $350 million, subject to customary purchase price adjustments. Of this purchase price, $70 million will be deferred and payable one year after the initial closing. The agreement was signed in partnership with North Hudson Resource Partners LP ("North Hudson"), whose affiliates will acquire a 30% non-operated interest in the White Rock assets. Together with the interests to be acquired by North Hudson, the total consideration for the acquisition of White Rock's Elm Coulee properties is $475 million based on a May 1, 2025, effective date. "This transaction is the perfect complement to our initial acquisition in the prolific Elm Coulee field of Montana last year," commented Brent Clum, Co-Chief Executive Officer. "Importantly, the strong well economics and our development plan, even with the lower oil prices, provide a pathway for healthy economic returns. We remain focused on the long-term value creation and distribution strategy for our owners with a disciplined allocation of our capital. These Williston Basin properties deliver growth, compelling margins and long-term visibility." "With this acquisition, TXO will become a leading oil producer in the Elm Coulee field, and for all the right reasons," stated Gary D. Simpson, Co-Chief Executive Officer. "The Elm Coulee field's rich resource base of an estimated 4 billion barrels of oil in place presents a significant target. The producing wells reflect top-notch margins across the oil industry. The horizontal drilling and completion techniques continue to enhance overall reservoir recovery. With more than 190,000 combined productive acres, we will be focused and diligent in delivering long-term production with a low-decline profile. Overall, this is great rock for a great future with TXO." This transaction is expected to close in the third quarter of 2025, subject to satisfaction of customary closing conditions. If consummated, the transaction is expected to add approximately 6,800 daily barrels of oil equivalent production (~93% liquids) to TXO and Proved Developed reserves of approximately 25,000 Mboe, as of April 30, 2025, as determined by Cawley, Gillespie & Associates, using SEC pricing. TXO's counsel in connection with the acquisition and partnership with North Hudson is Kelly Hart & Hallman, LLP and Latham & Watkins LLP, respectively. North Hudson's counsel on this transaction is Gibson, Dunn & Crutcher LLP. Jefferies LLC served as financial advisor to White Rock and Vinson & Elkins LLP served as legal counsel to White Rock. About TXO Partners, L.P. TXO Partners, L.P. is a master limited partnership focused on the acquisition, development, optimization and exploitation of conventional oil, natural gas, and natural gas liquid reserves in North America. TXO's current acreage positions are concentrated in the Permian Basin of West Texas and New Mexico, the San Juan Basin of New Mexico and Colorado and the Williston Basin of Montana and North Dakota. About North Hudson North Hudson Resource Partners LP is a Houston-based energy investment firm focused on opportunistic upstream and midstream energy investments in North America. With over $1.4 billion of assets under management as of May 2025, North Hudson's private equity platforms own both non-operated and operated oil and gas assets. Its current portfolio includes interests in the Permian Basin, DJ Basin, San Juan Basin, Williston Basin, Haynesville Shale, Utica Shale, and Canada. About White Rock Founded in 2012, White Rock is an upstream energy operator who has acquired over $750 million in U.S. oil and gas assets with over a billion total capital deployed. White Rock's objective has been to build a sustainable, best-in-class business model through technical competency and multi-basin experience. About Quantum Capital Group Founded in 1998, Quantum is a leading provider of private capital to the global energy and energy transition industry, having managed together with its affiliates more than $30 billion in equity commitments since inception. For more information on Quantum, please visit Cautionary Statement Concerning Forward-Looking Statements Certain statements contained in this press release constitute "forward- looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include the words such as "may," "assume," "forecast," "could," "should," "will," "plan," "believe," "anticipate," "intend," "estimate," "expect," "project," "budget" and similar expressions, although not all forward-looking statements contain such identifying words. These forward-looking statements include statements regarding the pending acquisition including our ability to satisfy the conditions to closing and the expected timing and benefits of the acquisition, our financing of the acquisition, our strategy, descriptions of future operations, prospects, plans and objectives of management, future cash flow and distributions and our ability to execute our strategy. These forward- looking statements are based on management's current belief, based on currently available information, as to the outcome and timing of future events at the time such statement was made, and it is possible that the results described in this press release will not be achieved. Our assumptions and future performance are subject to a wide range of business risks, uncertainties and factors, including, without limitation, the following: our ability to consummate the proposed acquisition on the terms currently contemplated; our ability to obtain financing for the transaction on terms that are satisfactory to us; our ability to meet distribution expectations and projections; the volatility of oil, natural gas and NGL prices; our ability to safely and efficiently operate TXO's assets; uncertainties about our estimated oil, natural gas and NGL reserves, including the impact of commodity price declines on the economic producibility of such reserves, and in projecting future rates of production; and the risks and other factors disclosed in TXO's filings with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, TXO does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. View source version on Contacts TXO PartnersBrent W. ClumCo-CEO and CFO817.334.7800ir@ Sign in to access your portfolio
Business Wire
13-05-2025
- Business
- Business Wire
TXO Partners, L.P., Announces Entry Into Definitive Agreement for Additional Elm Coulee Properties
FORT WORTH, Texas--(BUSINESS WIRE)--TXO Partners, L.P. (NYSE: TXO) ('TXO') announced today that it has entered into a purchase agreement with White Rock Energy, LLC ('White Rock'), a portfolio company of Quantum Capital Group, to purchase producing assets in the Elm Coulee field in the Williston Basin of Montana and North Dakota. The total cash consideration by TXO will be approximately $350 million, subject to customary purchase price adjustments. Of this purchase price, $70 million will be deferred and payable one year after the initial closing. The agreement was signed in partnership with North Hudson Resource Partners LP ('North Hudson'), whose affiliates will acquire a 30% non-operated interest in the White Rock assets. Together with the interests to be acquired by North Hudson, the total consideration for the acquisition of White Rock's Elm Coulee properties is $475 million based on a May 1, 2025, effective date. 'This transaction is the perfect complement to our initial acquisition in the prolific Elm Coulee field of Montana last year,' commented Brent Clum, Co-Chief Executive Officer. 'Importantly, the strong well economics and our development plan, even with the lower oil prices, provide a pathway for healthy economic returns. We remain focused on the long-term value creation and distribution strategy for our owners with a disciplined allocation of our capital. These Williston Basin properties deliver growth, compelling margins and long-term visibility.' 'With this acquisition, TXO will become a leading oil producer in the Elm Coulee field, and for all the right reasons,' stated Gary D. Simpson, Co-Chief Executive Officer. 'The Elm Coulee field's rich resource base of an estimated 4 billion barrels of oil in place presents a significant target. The producing wells reflect top-notch margins across the oil industry. The horizontal drilling and completion techniques continue to enhance overall reservoir recovery. With more than 190,000 combined productive acres, we will be focused and diligent in delivering long-term production with a low-decline profile. Overall, this is great rock for a great future with TXO.' This transaction is expected to close in the third quarter of 2025, subject to satisfaction of customary closing conditions. If consummated, the transaction is expected to add approximately 6,800 daily barrels of oil equivalent production (~93% liquids) to TXO and Proved Developed reserves of approximately 25,000 Mboe, as of April 30, 2025, as determined by Cawley, Gillespie & Associates, using SEC pricing. TXO's counsel in connection with the acquisition and partnership with North Hudson is Kelly Hart & Hallman, LLP and Latham & Watkins LLP, respectively. North Hudson's counsel on this transaction is Gibson, Dunn & Crutcher LLP. Jefferies LLC served as financial advisor to White Rock and Vinson & Elkins LLP served as legal counsel to White Rock. About TXO Partners, L.P. TXO Partners, L.P. is a master limited partnership focused on the acquisition, development, optimization and exploitation of conventional oil, natural gas, and natural gas liquid reserves in North America. TXO's current acreage positions are concentrated in the Permian Basin of West Texas and New Mexico, the San Juan Basin of New Mexico and Colorado and the Williston Basin of Montana and North Dakota. About North Hudson North Hudson Resource Partners LP is a Houston-based energy investment firm focused on opportunistic upstream and midstream energy investments in North America. With over $1.4 billion of assets under management as of May 2025, North Hudson's private equity platforms own both non-operated and operated oil and gas assets. Its current portfolio includes interests in the Permian Basin, DJ Basin, San Juan Basin, Williston Basin, Haynesville Shale, Utica Shale, and Canada. About White Rock Founded in 2012, White Rock is an upstream energy operator who has acquired over $750 million in U.S. oil and gas assets with over a billion total capital deployed. White Rock's objective has been to build a sustainable, best-in-class business model through technical competency and multi-basin experience. About Quantum Capital Group Founded in 1998, Quantum is a leading provider of private capital to the global energy and energy transition industry, having managed together with its affiliates more than $30 billion in equity commitments since inception. For more information on Quantum, please visit Cautionary Statement Concerning Forward-Looking Statements Certain statements contained in this press release constitute 'forward- looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include the words such as 'may,' 'assume,' 'forecast,' 'could,' 'should,' 'will,' 'plan,' 'believe,' 'anticipate,' 'intend,' 'estimate,' 'expect,' 'project,' 'budget' and similar expressions, although not all forward-looking statements contain such identifying words. These forward-looking statements include statements regarding the pending acquisition including our ability to satisfy the conditions to closing and the expected timing and benefits of the acquisition, our financing of the acquisition, our strategy, descriptions of future operations, prospects, plans and objectives of management, future cash flow and distributions and our ability to execute our strategy. These forward- looking statements are based on management's current belief, based on currently available information, as to the outcome and timing of future events at the time such statement was made, and it is possible that the results described in this press release will not be achieved. Our assumptions and future performance are subject to a wide range of business risks, uncertainties and factors, including, without limitation, the following: our ability to consummate the proposed acquisition on the terms currently contemplated; our ability to obtain financing for the transaction on terms that are satisfactory to us; our ability to meet distribution expectations and projections; the volatility of oil, natural gas and NGL prices; our ability to safely and efficiently operate TXO's assets; uncertainties about our estimated oil, natural gas and NGL reserves, including the impact of commodity price declines on the economic producibility of such reserves, and in projecting future rates of production; and the risks and other factors disclosed in TXO's filings with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, TXO does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
