- Miami-based Snapper Creek Energy also will handle NGL trades
- Perkins was previously managing director at ION Energy
Veteran energy broker Sid Perkins has started a new commodity brokerage called Snapper Creek Energy to trade natural gas and its liquid products — as well as carbon credits — to take advantage of the energy market’s transition.
The Miami-based firm started operations and began generating revenue with its first gas options deals on Oct. 16, Perkins said. Snapper Creek’s carbon desk, which focuses on longer-term deals, is already operating, and a new desk to trade physical natural gas liquids will start in early 2024. The firm also has an office in Houston and is looking to open one in New York.
The brokerage aims to build in-house research using new technologies to gain an edge, Perkins said. Snapper Creek is using SynMax, a satellite-analytics company backed by hedge fund manager Bill Perkins, to track activities such as drilling and LNG operations. Long-time energy analyst Kyle Cooper is leading research for Snapper Creek after serving as consultant for Ion Energy Group, Sid Perkins’ previous firm.
Perkins, whose past clients have included well-known gas traders like John Arnold and Brian Hunter, said the rise of liquefied natural gas exports has helped the US market evolve beyond a seasonal play to a more dynamic industry hinging on global macroeconomic factors. After years of compression, the US gas market now has “pretty good liquidity” through 2025 because of new capital and more interest from global traders, he said.
“It has been a really good market for speculators for the last few years,” Perkins said in an interview. Gas will be a critical part of Snapper Creek’s business for the long term, and Perkins said he’s trying to hire teams to trade the benchmark European gas and Japanese LNG hubs.
Perkins moved to Florida after about 15 years leading Ion, the New York brokerage he had started. The firm operated under OTC Global Holdings, which had all the voting rights on the board, Perkins said. At Snapper Creek, he has full authority for initiatives like developing research in-house and working with his brother.
Ike Perkins, who was on the structuring and investments team at commodity merchant Mercuria Energy America Inc., is serving as chief financial officer for Snapper Creek.
