| FOR IMMEDIATE RELEASE
NGP Midstream & Resources can be reached at www.NGPMR.com or (713) 579-5000.
John T. Raymond, Managing Partner & CEO
NGP MIDSTREAM & RESOURCES ANNOUNCES CLOSING OF $1.4 BILLION FUND
IRVING, Texas – December 5, 2007 - NGP Midstream & Resources (“M&R”) announces that it has closed Fund I on November 16, 2007 with investment commitments totaling $1.4 billion. M&R makes direct equity based investments in the midstream energy sector and all facets of the mining and minerals sectors. M&R provides $50 to $250 million of equity capital to entities with experienced management teams complemented by a focus on hard assets that are integral to the existing and growing needs of their respective markets.
John T. Raymond, Managing Partner and CEO of M&R commented “We are pleased to complete fundraising initiatives and are appreciative of the support received from the investment community. Contemporaneously, we have built a strong management team that is exclusively dedicated to M&R’s efforts and continues to develop and evaluate an active portfolio of opportunities. To this end, approximately 25% of the Fund has been committed to transactions that are highly consistent with our strategic objectives. We look forward to further developments in the near future.”
John G. Calvert, Managing Partner & COO of M&R continued, “The volume and quality of investment opportunities remains very high. To date, we have committed $360 million to a variety of midstream energy and mining opportunities and have approximately $110 million of additional commitments expected to close in Q1, 2008”.
M&R is affiliated with NGP Energy Capital Management, a $7.7 billion firm based in Irving, Texas that invests in all sectors of the energy industry.