HudsonField, a newly formed energy merchant, has begun operations after entering into a strategic partnership to provide access to capital for financing oil and gas exploration and production (E&P) companies in North America.
HudsonField provides integrated financing, marketing, logistics, and risk management products to underserved, middle-market oil and gas operators and end-users. The company generates revenue by intermediating physical commodity markets for risk-based returns and charging fees for financing, marketing, and logistics.
“Over the last few years, new regulations have limited the availability of financing for middle-market E&P producers, and many banks have exited the commodities risk intermediation and financing business,” said Ben Freeman, CEO of HudsonField. “While many banks have continued to show faith in producers, we know that bank lines of credit and capital markets are drying up, and it’s an excellent time for HudsonField to serve the market as a provider of financing, marketing, logistics and risk management.”
HudsonField’s origination and structuring team is led by Scott Edwards and Sebastian Douieb. Edwards has experience raising capital for small and midcap public and private North American E&P companies. Douieb has experience in commodity trading, principal investing, and structuring of risk management products with Goldman Sachs and most recently as a director in Noble Group’s mergers and acquisitions team.
Different from typical energy merchants, HudsonField’s business model takes a client-centric approach that aligns interests and focuses on becoming a “one-stop-shop” for clients’ long-term financing, marketing, logistics, and risk management needs.
“What makes us different is we are working with our clients and not against them,” Freeman said. “That’s because we aren’t vertically integrated, we aren’t producing or refining, we are simply working as a financing, marketing and logistics partner. Secondly, and more importantly, it is the strength of our entire team and our strategic partnerships that makes us a true growth-partner for clients.”
HudsonField’s executive team includes:
- Ben Freeman, CEO – Former Goldman Sachs managing director and global head of oil derivatives trading
- Scott Bormaster, president of marketing and transportation – An industry veteran with 36 years of experience marketing and transporting oil and gas; he was recently vice president of oil business development for Buckeye Partners LP
- Seth Kammerman, CFO – Former Goldman Sachs managing director of global liquidity products
- Rod Nelson, chief risk officer – More than 17 years of experience in the merchant services sector and former structured finance lead at Trafigura Trading LLC
- David Obadia, head strategist and CTO – Former Goldman Sachs and BlueMountain Capital quantitative strategist
- Andrew Parsons, chief administrative officer – Former managing director of administration and portfolio operations for Zaff Capital with more than 25 years of experience.
With offices in New York and Houston, HudsonField is working with clients in need of financing, logistics, and risk management support in the oil and gas sector.