“Black Mountain Oil & Gas receives investment from NGP affiliate”
Black Mountain Oil & Gas LLC said Wednesday, Feb. 10, that an affiliate of Natural Gas Partners LP provided a $150 million equity commitment to the independent oil and gas company.
The investment came from NGP Natural Resources XI LP, the most recent fund the energy investor raised. It closed in January 2015, having raised $5.3 billion, which brought the total amount of NGP’s family of private equity investment funds to $16.5 billion. According to its website, since the firm’s founding in 1988, it has invested in 260 transactions in the energy industry.