Black Mountain Oil & Gas LLC closed a $150 million equity commitment from Natural Gas Partners (NGP) and formed a partnership, the company said Feb. 10.
NGP's Natural Resources XI LP natural resources-focused private-equity fund provided the commitment.
Black Mountain’s management team combines expertise in geology, engineering, land and A&D in conventional and unconventional oil and gas reservoirs. The company currently focuses on the Delaware Basin, but also works in other producing regions.
Black Mountain Oil & Gas LLC is based in Fort Worth, Texas. Natural Gas Partners is based in Irving, Texas.