One of the companies to have made significant moves over the past months is the energy company Houston Natural Resources (OTC:HNRC) and it may be a good move for investors to take a closer look into it.
Earlier this month on January 12, the company provided an update with regard to some of its recent milestones and achievement and also came up with its strategic vision for 2023. It could be a good idea to take a look at those some of the highlights and make your mind up about the stock.
In 2022, the company spun off its non-energy assets into a fully owned subsidiary unit name Worldwide Diversified Holdings Inc and provided a dividend for the same to the shareholders. More importantly, the company also announced that it was going to continue to expand its non-energy assets. The shareholders were paid the dividends once the FINRA review for the same had been concluded.
That being said, Houston Natural Resources Corporation did not have a specific date in mind with regard to the review completion but noted that it would keep shareholders apprised about the progress. Another major development in 2022 was that Houston Natural Resources Corporation managed to acquire a 9.9% stake in the firm Cunningham Energy LLC.
However, it ought to be noted that the company also extended the letter of intent pertaining to the transaction and had the option to acquire 100% of Cunningham Energy by March 31 this year.
On the other hand, it engaged the services of an underwriter for a commitment of as much as $10 million for a potential listing on a major exchange in 2023. On the other hand, Houston Natural Resources Corporation is also exploring the possibility of making new acquisitions in the energy as well as energy services industries.