HOUSTON--(BUSINESS WIRE)--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.