Natural Gas Partners Announces Affiliation With Montierra Minerals & Production, L.P.
Posted on: Tuesday, 25 April 2006, 09:01 CDT
Natural Gas Partners, an affiliate of NGP Energy Capital Management (NGP), the leading investment franchise in the energy business, today announced its affiliation with Montierra Minerals & Production, L.P., a Houston, Texas based firm focused on the acquisition, exploitation and development of oil and gas royalty and mineral interests located throughout North America. The new firm will be managed by Joseph A. Mills, a 23 year energy industry veteran with an extensive track record of acquiring and exploiting a wide variety of oil and gas assets. Natural Gas Partners has contributed certain oil and gas interests and cash totaling in excess of $200 million to Montierra. The new company intends to pursue a very broad mandate including royalty and mineral acquisitions as well as working interest purchases and development drilling activities.
Kenneth A. Hersh, Chief Executive Officer of NGP Energy Capital Management and Managing Partner of Natural Gas Partners, said, "We have known Joe for many years now and are enthusiastic about the opportunity to join forces and make acquisitions together." Hersh went on to say that "Montierra's business plan is a great fit with NGP's strategy of backing strong management teams that have compiled a great track record of building value in a focused sector within the industry." Mills, who will act as President and CEO of the new company, said "I am very pleased to be affiliated with and have the backing and support of Natural Gas Partners." In describing his firm's competitive edge, Mills stated "With my team's extensive engineering capabilities, and NGP's sizable financial commitment and capital markets expertise, we have the most flexible acquisition vehicle available at this time."
Natural Gas Partners
Founded in 1988, Natural Gas Partners is a $2.9 billion family of funds that invest private equity capital in oil and gas production, midstream and oilfield service companies. The firm also manages $350 million in two co-investment funds that invest in direct oil and gas property interests alongside NGP portfolio companies. Natural Gas Partners is an affiliate of NGP Energy Capital Management, a $3.6 billion firm based in Irving, Texas that invests in all sectors of the energy industry. Natural Gas Partners may be reached at (972) 432-1440 or www.naturalgaspartners.com.
Source: Business Wire
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