The private equity start

Hiduke got his start with $100 million in funding from NGP.

With the money, he set up a firm called PCORE.

The firm’s specialty: buying up small leases in order to flip them quickly and make a profit.

At the time, Hiduke boasted a threefold return on investment for his backers.

And oil prices were trending down at the time.

It could have something to do with the acreage flipped being in the Permian.

That strong start led to PCORE II.

That enterprise got $200 million from NGP.

It still focused on the Permian.

And it kept making money.

It was only a matter of time before Hiduke got into drilling.

A million barrels of oil

HOG Resources was set up in 2019.

In 2023, HOG Resources raised close to $53 million from investors.

That’s what happens when you know what you’re doing.

Last year, Hiduke wrote on LinkedIn that HOG had hit the milestone of 1 million barrels.

Just two years after it sold its first barrel, back in 2022.

Underperforming IRA…?

Charlie Munger (Warren Buffett’s partner and investing genius) said:

“If you go back to what the rich people of England did back, say, in 1900, they bought consoles, 2.5%, no inflation. Two and a half percent return…you’d be satisfied with that.

“No rich people thought there was any safe way of getting 8% if you go back to 1880 among the rich people of England.”

Beat the “Rich people of England”

US Treasury Bills are around 4% per annum. Money market rates are around 4.75% per year. Why would you let your money sit useless in a savings account?

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ROX has 35+ Years of Experience

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