Abhishek Kumar, co-founder and principal of Production Lending, is today’s featured Forty Under 40 honoree.
“I am really proud of building the Production Lending business with my partner Ryan Childs,” Kumar said. “At Production Lending, we provide capital to lower middle market oil and gas companies.”
Based in Houston, Production Lending is a specialty finance lender catering to small, private U.S.-based E&P companies, but also has the ability to finance deals up to $25 million in size.
In the past five years, Production Lending has closed 24 debt deals and five equity deals, building a track record, according to Kumar, by working closely with the firm’s operating partners and delivering consistent returns for its investors.
“Back in 2016, when we started this business, banks were receding from the space due to OCC regulations and institutional capital was hesitant in deploying capital with small independent companies,” he said.
“The segment that we were catering to was fraught with risk,” he continued. “However, Ryan and I also knew that there were some great assets that were undercapitalized just by virtue of being subscale. We also knew that many exceptional operators were chasing these opportunities and decided to back them.”
Prior to the founding of Production Lending, Kumar spent eight years in energy investment banking during which he underwrote more than $35 billion in committed financing and advised companies in the energy sector on over $15 billion of successfully closed M&A transactions.
Kumar started his banking career as an associate in the energy group of Wells Fargo and later joined Nomura and then BMO Capital Markets, where he focused mostly on upstream companies as vice president in the energy investment banking group.
Click here for Abhishek Kumar’s complete profile.
Take a look at all of the Forty Under 40 honorees.
Recommended Reading
Exxon Versus Chevron: The Fight for Hess’ 30% Guyana Interest
2024-03-04 - Chevron's plan to buy Hess Corp. and assume a 30% foothold in Guyana has been complicated by Exxon Mobil and CNOOC's claims that they have the right of first refusal for the interest.
Pitts: Heavyweight Battle Brewing Between US Supermajors in South America
2024-04-09 - Exxon Mobil took the first swing in defense of its right of first refusal for Hess' interest in Guyana's Stabroek Block, but Chevron isn't backing down.
Exxon Mobil Guyana Awards Two Contracts for its Whiptail Project
2024-04-16 - Exxon Mobil Guyana awarded Strohm and TechnipFMC with contracts for its Whiptail Project located offshore in Guyana’s Stabroek Block.
Exxon Ups Mammoth Offshore Guyana Production by Another 100,000 bbl/d
2024-04-15 - Exxon Mobil, which took a final investment decision on its Whiptail development on April 12, now estimates its six offshore Guyana projects will average gross production of 1.3 MMbbl/d by 2027.
Exxon Mobil Green-lights $12.7B Whiptail Project Offshore Guyana
2024-04-12 - Exxon Mobil’s sixth development in the Stabroek Block will add 250,000 bbl/d capacity when it starts production in 2027.