- Wing Resources IV announced it has raised $100 million in new equity commitments from NGP through NGP Natural Resources XII, L.P.
Wing Resources IV, LLC (known as Wing IV) announced it has raised $100 million in new equity commitments from NGP through NGP Natural Resources XII, L.P. — which is the most recent NGP private equity fund focused on natural resources.
Wing IV is a Permian Basin focused mineral and royalty acquisition company that is led by president and CEO Nick Varel, Executive Vice President Josh Strange, Chief Financial Officer Jimmy Elskes, Vice President Of Engineering Joseph Rogers, and Vice President of Geoscience Ulysses “Trey” Hargrove, III Ph.D.
“We are excited to continue our partnership with NGP to build a premier mineral and royalty acquisition platform focused on delivering superior risk-adjusted returns to its stakeholders. The Wing IV team believes our mineral and royalty expertise, along with strong equity backing and market relationships, will enable us to continue creating value in today’s dynamic environment. The financial commitment and investment experience of NGP, coupled with the over 70 combined years of experience of Wing IV’s management team will allow us to continue our growth strategy,” said Varel.
Launched in 1988, NGP is a premier private equity firm with approximately $20 billion of cumulative equity commitments organized for making strategic investments in the energy and natural resources sectors.
“NGP is excited and grateful to partner with the Wing IV team,” added NGP Energy Capital Management partner James Wallis. “We are thrilled to work again with such an energetic, disciplined and skilled company and are pleased to continue the partnership. We respect the dynamic culture, entrepreneurial instincts, and market vision that will position Wing IV for success.”
