New private equity firm Edge Natural Resources launches

Dallas-based Edge Natural Resources LLC, a new private equity firm in Dallas that will focus on making small-cap investments in the North American sector, has opened its doors. Roy Aneed, former managing director at Natural Gas Partners and Jesse Bomer, former general counsel at NGP, are among those leading the team at Edge.


Natural Gas Partners commits $400 mln to Prairie Storm Energy

Natural Gas Partners has committed $400 million in equity financing to the formation of Prairie Storm Energy Corp., which is focused on acquiring, developing and exploiting oil and gas assets in select regions of Western Canada. Hugh Ross is President & CEO of Prairie, Ketan Panchmatia is VP Finance & CFO, Greg Groten is VP Exploration, while Rob Morrison is VP Operations and Julian Din is VP Business Development, a statement said.


NGP invests in Crossing Rocks

Crossing Rocks Energy Partners, a newly formed company focused on acquiring, developing and monetizing North American oil and gas related assets primarily in the mid-continent, East Texas and Permian basins, has received an undisclosed investment from Natural Gas Partners. No financial terms were disclosed.


NGP-backed Bravo agrees to $250 mln investment in Canaan Natural Gas PE Funds

Bravo Natural Resources, backed by Natural Gas Partners, has agreed to buy producing and gathering assets from Oklahoma City-based Canaan Natural Gas PE Funds for $250 million in cash. Closing is expected in the fourth quarter. The deal includes 950 operated and non-operated wells producing from various sites in the Arkoma Basin of southeast Oklahoma.


Natural Gas Partners invests in Oilfield Water Logistics

NGP Natural Resources X and NGP Energy Technology Partners II have invested in Oilfield Water Logistics, a new company formed to acquire, develop and manage water-related and other oilfield fluids infrastructure and services. In May, Oilfield Water Logistics bought a portfolio of saltwater disposal wells and entered into surface use agreements in New Mexico to serve oil and gas producers in the Permian Basin.


NGP-backed Catapult invests in Cretic

Catapult Energy Services Group, which is backed by NGP, has made an undisclosed investment in Cretic Energy Services. Headquartered in Montgomery Texas, Cretic is a provider of tubing services to oil and gas producers throughout Texas, Louisiana, Mississippi, Oklahoma and New Mexico.


PE-backed Parsley Energy launches IPO

Parsley Energy has debuted its IPO after pricing its 50 million shares at $18.50 per share. The stock began trading Friday on the NYSE under the ticker symbol “PE.” Credit Suisse Securities (USA) and Goldman Sachs are the lead underwriters. Based in Midland, Texas, Parsley Energy, which is backed by Natural Gas Partners, is an oil and gas company.

Atlantic Energy Holdings Appoints to Exec Management Team

Atlantic Energy Holdings has appointed Rob Jacobs and Don Gann to the executive management team of Atlantic. Atlantic also announced that Natural Gas Partners, through its recently closed fund, NGP Natural Resources X, L.P., has increased its commitment of equity capital to Atlantic to $250 million.

Northstar Launches Gulf of Mexico Startup

Northstar said Wednesday that it has created and capitalized a new company called Northstar Offshore Group. Also, effective Feb. 1, Northstar has entered into letters of intent to buy producing assets in the Gulf of Mexico shelf and begin drilling. Northstar did not disclose the seller. Houston-based Northstar is an oil and gas production company […]

Weinzierl Appointed Venture Partner at Natural Gas Partners

John Weinzierl was named a venture partner at Natural Gas Partners. Weinzierl is CEO of Memorial Resource Development as well as CEO and Chairman of the board for the GP of Memorial Production Partners. Previously, he spent 12 years at NGP Energy Capital Management, most recently as MDand Operating Partner of its Natural Gas Partners funds. […]

Northstar Offshore Sells Assets to Investor Group for $201 Mln

Northstar Offshore Energy Partners said Thursday that it has sold most of its asset holdings to ANKOR E&P Holdings Corp., STX Energy E&P Offshore Management and SCL Resources for $201 million. The deal was effective Oct. 1. The assets sold have a current output of 4,700 barrels per day and reserves of 10.8 million barrels. Northstar Offshore is backed by Natural Gas Partners.

NGP Sells CRC-Evans for $445 Million

Natural Gas Partners has sold CRC-Evans International to Stanley Black & Decker (NYSE: SWK) for $445 million in cash. Houston-based CRC-Evans provides tools, equipment and services for the construction of oil and natural gas transmission.

NGP Promotes Craig Glick

Natural Gas Partners has promoted Craig Glick from principal to managing director and counsel. He joned the firm in 2008, after having been a managing director with NGP Midstream & Resources and a co-founder of Kosmos Energy Holdings.

TEAK Midstream Raises $100 Million

TEAK Midstream LLC, a Dallas, Texas-based midstream energy startup, has raised $100 million in private equity funding from Natural Gas Partners. TEAK was launched by Crosstex Energy co-founders Chris Aulds and James Wales.

Hicks SPAC Buying Resolute Natural Resources Co

Hicks Acquisition Company I (AMEX: TOH), a blank check vehicle run by Tom Hicks, has agreed to acquire Resolute Natural Resources Co., an independent oil and gas company founded in 2004 by Natural Gas Partners. Hicks would value Resolute at $582 million, rename it Resolute Energy Corp. and apply to list it on the NYSE. NGP would remain a minority shareholder.

It’s Cost Cutting Time at Pension Funds

Is this a sign of things to come in LP-Land? The State of Indiana has proposed legislation that will merge the administrative functions and advisory boards of Indiana State Teachers Retirement Fund and Indiana Public Employees Retirement Fund.

To be clear, they’re not merging the funds (so don’t be deceived by this Associated Press article).

It’s a smart move considering the funds have both posted sizable losses this year. It will save $8.9 million in one-time administrative costs and $1.2 million in annual savings. The funds themselves will stay separate, but with one executive director and a single investment board. Right now Terren B. Magid is the executive director of PERF and Steve Russo is the executive director of TRS.

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