Hunt Consolidated is a holding company for the oil, real estate, and other businesses of Ray Hunt, son of legendary Texas wildcatter and company founder H.L. Hunt. Hunt Oil is an oil and gas production and exploration company with primary interests in North and South America (Peru). Hoping to repeat huge discoveries in Yemen, Hunt Oil is exploring in Canada, Ghana, Iraq, Madagascar, and Oman. Hunt Realty Investments handles commercial and residential real estate investment management activities. Affiliate Hunt Refining operates three refineries in Alabama and Mississippi, while Hunt Power invests in power grids and electric services.
Hunt Consolidated has assets in Australia, Canada, Colombia, Italy, Kurdistan(Iraq), Mexico, Chile, Oman, Peru, Romania, the UAE, the US, and Yemen. Production and development activities are conducted in Europe, the Middle East, and South America, including in Australia, Canada, Peru, Romania, and Yemen. It has exploration activities in Argentina, Canada, Chile, Ethiopia, France, Ghana, Guyana, Laos, Madagascar, Niger, Oman, Peru, Portugal, Togo, the UK, Yemen and in a number of other countries.
Hunt Oil is one of the few independent oil and gas companies with LNG projects as a major line of business. Hunt LNG Company is a lead shareholder of the PERU LNG project, with partners Repsol, SK Corp, and Marubeni. It also participates in the Yemen LNG project with Total, SK Corp, Hyundai, KOGAS, and the government of Yemen.
Hunt Consolidated also invests in renewable energy (primarily wind projects) through Hunt Energy Horizons, while Hunt Mexico is focused on developing real estate, natural gas, electric power, and private equity opportunities in Mexico.
Other affiliated businesses include liquefied natural gas (LNG) investments (Hunt LNG), ranching (Hoodoo Land and Cattle), and private equity investments (Hunt Investment Group).
Hunt Consolidated operates as a holding company to manage the Hunt family's diverse interests. It has two intermediate holding companies: Hunt Consolidated Energy, which oversees energy and infrastructure activities; and Hunt Consolidated Investments, which is responsible for real estate, investment, and agribusiness operations, and for new ventures. The broad range of operations helps to protect Hunt Consolidated's revenues from dependence on Hunt Oil's high risk/high return approach to exploration and production, and the boom and bust cycles of the oil and gas market.
The company's oil business focuses on exploring and developing new unconventional resource plays. It looks for acquisition opportunities involving quality producing properties with major exploration upside, either as entire companies or as packages of assets.
In 2014 Hunt Consolidated stepped into the Energy Future Holdings bankruptcy case, seeking to gain control of the transmission company Oncor. Hunt had previously tried to buy Oncor through Sharyland, its transmission subsidiary.
To raise cash, in 2014 Hunt Oil agreed to sell natural gas, oil, and natural gas liquids assets in North Louisiana and East Texas to Vanguard Natural Resources for $278 million.
Expanding its oil operations, in 2011 Hunt Oil relocated its London office to Romania, where it has an active exploration and production program.
In a strategic move to avoid income taxes, in 2010 the company formed two real estate investment trusts (REITs) for $2.1 billion, to hold its electricity transmission infrastructure and its natural gas pipelines. REITs do not pay income taxes, as long as they distribute their earnings to shareholders (who then pay the taxes).
Hunt Oil was founded in 1934 (reportedly with wildcatter H.L. Hunt's poker winnings). Hunt Consolidated was formed in 1980.