Houston Natural Resources Corp. (HNRC) recently announced that it has acquired a 40% interest in Rhino Energy Pty Ltd.
HNRC strengthens its team with the acquisition of Rhino Energy and its top executives
This Australian energy company focuses on oil and gas development in North America and is led by David Whitby and Tom Fontaine.
- Whitby has an impressive track record with experience as former Vice President of Heavy Oil for Husky Oil in Canada, as well as General Manager of ASX-listed Nido Petroleum. During his tenure at Nido, the company’s market capitalization grew from A$1 million to A$600 million. In addition, he oversaw Nido’s transition from pure explorer to producer.
- Fontaine has over 30 years of experience in oil and gas development gaswith significant experience in primary CHOPS production and horizontal well development, as well as enhanced recovery development with Husky in the Cold Lake and Lloydminster areas of Alberta.
Rhino Energy’s management team is rounded out by Mike Mason and Gregor Mahwinney, both of whom have impressive backgrounds in the oil industry.
- Mason has more than 35 years of experience in oil and gas, and previously worked as a former regional operations manager for Apache in Egypt and vice president of petroleum engineering at British Petroleum.
- Mahwinney has more than 40 years of experience in conventional and unconventional oil operations, and previously held positions such as North Sea field manager and country manager in Yemen for Nexen Inc. and director of operations in Ecuador for Encana.
Overall, Rhino Energy’s management team has significant experience with operated and non-operated assets in 27 countries and has managed 1.7 million BOEPD of production.
HNRC seeks new investment opportunities
In addition, Houston Natural Resources Corp. has extended its letter of intent to acquire a 90.1% interest in Cunningham Energy LLC, with the transaction expected to be completed in the second quarter. The company is engaged in various legal processes and has hired lawyers, auditors and an underwriter for its NASDAQ listing, which it expects to file in the second quarter of this year.
Houston Natural Resources Corp. is a diversified energy company with interests in oil and gas and wastewater treatment facilities. The Halff oil field in Crockett County, Texas, has 83 oil wells with an estimated 33 million barrels of oil and $69 million in appreciated reserves.
The company is also looking for new acquisitions in the oil, gas and wastewater sectors, with a focus on creating more value for its shareholders.
