Black Mountain Oil & Gas LLC has closed a $150 million equity commitment from Natural Gas Partners (NGP) through NGP Natural Resources XI LP, the most recent NGP private equity fund focused on natural resources.
The Black Mountain management team combines expertise in geology, engineering, land, and A&D in conventional and unconventional oil and gas reservoirs. The company is applying its multi-disciplinary approach across the most prolific producing regions in the US Lower 48 with a current focus on the Delaware Basin in Texas and New Mexico.
Black Mountain is an independent oil and gas company based in Fort Worth, Texas. The first Black Mountain company was founded in 2007; since that time, it and its successors have leased over 200,000 acres in various resource plays across six basins and five states, and acquired mineral and royalty interests in more than 10,000 oil and gas wells covering 800,000 gross acres in 11 states.