Hunt Petroleum

Hunt Petroleum Corporation was a privately held American oil and gas exploration and production company established in 1950. The business began under the name Petrol Production Co. and was subsequently renamed Hunt Petroleum Corporation. Its ownership was closely connected with the Hunt family through two trusts: the Margaret Hunt Trust Estate held 52.84 percent of the corporation, while the Haroldson L. Hunt, Jr. Trust Estate held 47.16 percent. The principal beneficiaries of those trusts were the two eldest children of H. L. Hunt and Lyda Bunker Hunt. The company operated as a distinct corporate entity within the broader network of businesses associated with the Hunt name. Its historical identity is therefore important to distinguish from several similarly named organizations. Hunt Petroleum had no common ownership with Hunt Oil Company, Petro-Hunt, LLC, Hunt Exploration, Unity Hunt, Hunt Properties, or Rosewood Resources. These distinctions are particularly relevant because the Hunt name has been used by multiple independent businesses in energy, property, exploration, and other sectors. Hunt Petroleum's core business was upstream energy: exploring for and producing oil and natural gas. Public reference material identifies the company principally through its ownership structure and its eventual sale rather than through a consumer-facing product portfolio or a widely marketed retail brand. It was an operating company whose value was tied to its petroleum assets and production activities. On June 10, 2008, XTO Energy, an exploration and production company based in Fort Worth, announced an agreement to acquire Hunt Petroleum for $4.19 billion. The transaction ended Hunt Petroleum's independent corporate existence as an operating company and transferred its assets to XTO. In 2010, ExxonMobil acquired XTO Energy. As a result, the former Hunt Petroleum assets subsequently came under ExxonMobil ownership through XTO. Hunt Petroleum is therefore best understood as a defunct upstream oil and gas company whose principal historical significance lies in its Hunt-family ownership and its multibillion-dollar acquisition by XTO Energy.

Hunt Petroleum Corporation was formed in 1950 as an oil and gas exploration and production business. Its original corporate name was Petrol Production Co.; the company later adopted the Hunt Petroleum Corporation name. The enterprise was controlled by members of the Hunt family through two trust estates rather than being a publicly traded company. The Margaret Hunt Trust Estate owned 52.84 percent, and the Haroldson L. Hunt, Jr. Trust Estate owned 47.16 percent. The primary beneficiaries of those trusts were the two eldest children of H. L. Hunt and Lyda Bunker Hunt. The company belonged to the upstream segment of the petroleum industry. Its activities centered on the exploration and production of oil and natural gas, meaning that its principal assets were petroleum properties, reserves, and producing operations rather than consumer products or branded fuels. Available reference material does not provide a detailed chronological account of individual fields, production volumes, executives, or regional operating divisions, so those aspects are not expanded here. Because the Hunt name has been used by a number of separate companies, Hunt Petroleum's corporate identity must be kept distinct from other Hunt-branded or Hunt-named businesses. The company had no common ownership and was not affiliated with Hunt Oil Company, Petro-Hunt, LLC, Hunt Exploration, Unity Hunt, Hunt Properties, or Rosewood Resources. This separation is central to correctly identifying the subject as Hunt Petroleum Corporation rather than another Hunt-related energy or property enterprise. The decisive event in the company's later history occurred on June 10, 2008, when Fort Worth-based XTO Energy announced its purchase of Hunt Petroleum for $4.19 billion. The acquisition transferred Hunt Petroleum's assets to XTO and ended Hunt Petroleum's status as an independent company. XTO itself was acquired by ExxonMobil in 2010. Consequently, the assets formerly held by Hunt Petroleum are presently associated with ExxonMobil through its ownership of XTO Energy. Hunt Petroleum is therefore a defunct corporate brand and former upstream operating company, not a currently independent oil and gas producer.

• 2010

  Assets transferred into ExxonMobil ownership through XTO

  [1]Hunt Petroleumen.wikipedia.org

  ExxonMobil's acquisition of XTO Energy resulted in the former Hunt Petroleum assets becoming part of ExxonMobil's portfolio.

• 2008

  Acquired by XTO Energy

  [1]Hunt Petroleumen.wikipedia.org

  XTO Energy announced the purchase of Hunt Petroleum for $4.19 billion on June 10, 2008.

• 1950

  Company formed as Petrol Production Co.

  [1]Hunt Petroleumen.wikipedia.org

  The business was established as Petrol Production Co., an oil and gas exploration and production company.

• Renamed Hunt Petroleum Corporation

  [1]Hunt Petroleumen.wikipedia.org

  The company later changed its name from Petrol Production Co. to Hunt Petroleum Corporation.

A privately held, Hunt-family-controlled upstream oil and gas exploration and production company.

• Upstream petroleum production

  Crude oil

  Crude oil was one of the principal hydrocarbons associated with Hunt Petroleum's exploration and production activities. The company was an upstream operator rather than a consumer fuels brand, so crude oil represented an output of its petroleum properties and producing assets.

• Upstream natural gas production

  Natural gas

  Natural gas formed part of Hunt Petroleum's oil and gas exploration and production business. Available reference material does not identify specific gas fields, production levels, or branded commercial offerings, but identifies the company as an upstream producer whose assets included oil and gas properties.

• 2008

  Sale to XTO EnergyM&A

  Background

  Hunt Petroleum was a privately held upstream oil and gas company controlled through Hunt-family trust estates. XTO Energy announced its intention to acquire the company and its assets.

  Action taken

  XTO Energy agreed to purchase Hunt Petroleum for $4.19 billion, as announced on June 10, 2008.

  Aftermath

  Hunt Petroleum ceased to operate as an independent company, and its assets later came under ExxonMobil ownership following ExxonMobil's 2010 acquisition of XTO Energy.

  Acquisition value. $4.19 billion (2008 announcement)

  Source

1. 1Hunt Petroleumen.wikipedia.org