WildHorse Resource Development Corporation Receives Notice of Partial Distribution of WRD Shares
WildHorse Resource Development Corporation (NYSE:WRD) received notice
today that Natural Gas Partners, IX L.P. (“NGP IX”), which is one of
three investment funds managed by NGP Energy Capital Management, LLC
(“NGP”) that are the largest stockholders of WRD, has recently
distributed approximately 12.0 million shares to its limited partners in
NGP IX.
Following the distribution, investment funds managed by NGP continue as
WRD’s largest stockholder, and own approximately 59.5 million shares, or
58.8% of outstanding WRD common shares. Pursuant to NGP’s notice, NGP
Natural Resources X, L.P. and NGP Natural Resources XI, L.P., which are
the two remaining investment funds managed by NGP that own WRD shares,
have no current intention of selling or distributing their respective
shares of WRD.
“NGP IX’s distribution of shares increases WRD’s trading liquidity
without a secondary offering. We are pleased to have the long-term
support of NGP, a leading and long-standing energy investor, as WRD
continues to represent their largest portfolio company investment,” said
Jay Graham, Chairman and Chief Executive Officer of WRD.
About WildHorse Resource Development
WildHorse Resource Development Corporation is an independent oil and
natural gas company focused on the acquisition, exploration, development
and production of oil, natural gas and NGL properties primarily in the
Eagle Ford Shale and Austin Chalk in East Texas.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180514006164/en/
Copyright Business Wire 2018
Source: Business Wire
(May 14, 2018 - 2:00 PM EDT)
News by QuoteMedia
www.quotemedia.com