NGP Energy Capital Management Announces $1.7 Billion of Fund Closings.

IRVING, Texas -- NGP Energy Capital Management (NGP), the leading investment franchise in the energy business, today announced the closing of three new funds with aggregate capital of $1.7 billion. Natural Gas Partners VIII, L.P., the most recent in the series of NGP's private equity funds, closed on November 16, 2005 with a total of $1.3 billion of investment commitments. A companion fund, NGP Income Co-Investment Opportunities Fund II, L.P., also closed with $250 million of investment commitments. In addition, NGP Energy Technology Partners, L.P. held its final closing on November 30, 2005 with total commitments of $148 million. With these funds, NGP's total investment capital under management since 1988 exceeds $3.6 billion.

Natural Gas Partners Funds

The $1.3 billion fund, Natural Gas Partners VIII, L.P. (NGP 8), will continue the firm's 17-year history as the premier provider of private equity capital and sponsorship for the most dynamic companies in the energy industry. Since 1988, through the family of Natural Gas Partners private equity funds, NGP has invested in more than 85 companies operating in the oil and gas production, midstream and oilfield service sectors.

Kenneth A. Hersh, Chief Executive Officer of NGP Energy Capital Management and Managing Partner of NGP 8, said, "We are extremely proud of our industry-leading track record in the private equity business and continue to see strong demand for private equity capital from our network of operating management teams. Our investment franchise has evolved significantly over the past decade as evidenced by the acceleration of our investment activities. A series of transactions this fall exhausted the investment capacity of our prior fund months ahead of our anticipated schedule, leading us to form NGP 8 on an expedited basis. The fact that the closing for this fund occurred so quickly and seamlessly is a testament to our great relationship with our investors, for which we are very appreciative."

Citing firm policy not to disclose investors by name, Hersh added, "Approximately $1.2 billion of the commitments accepted for NGP 8 came from investors already committed to prior NGP funds, with the remainder coming from institutions or through consultants previously known by the firm."

In addition, the firm formed its second co-investment fund, NGP Income Co-Investment Opportunities Fund II, L.P., with $250 million of investment capital. It will invest capital alongside NGP 8's portfolio companies to purchase various royalty, net profits and other interests in oil and gas properties as well as other energy-related assets. The fund is a successor to a $100 million fund created in January 2005 that co-invests alongside a predecessor fund's portfolio companies.

NGP Energy Technology Partners

NGP Energy Technology Partners, L.P. (NGP ETP) is a $148 million private equity fund created to invest growth capital and buyout funding for companies providing technology-related products and services to the oil and gas, power and alternative energy sectors. NGP ETP, which held its first closing in September with $94.1 million of commitments, elected to stop accepting further commitments and to hold a final closing as of November 30, 2005 when the fund grew beyond $145 million of commitments. Philip J. Deutch, the Managing Partner of NGP ETP, said, "We are pleased to have reached the high end of the size range we targeted when we began fundraising and could not be more excited about the investment thesis of NGP Energy Technology Partners, L.P. The time is right to create a unique capital source dedicated to the specialized needs of the energy technology sector. This is one of the most dynamic investment arenas in the world today."

NGP Energy Capital Management

NGP Energy Capital Management is the new name for the firm founded in 1988 in connection with the establishment of the first NGP private equity fund. Hersh concluded, "We are proud at NGP to have built the oldest and largest investment firm that has operated continuously in the North American oil and gas production industry. Presently, energy is the most complicated, volatile and dynamic sector of the world's economy. In this context, it is critical that an investor understand the entire interplay between the global commodity and capital markets, geopolitics, macroeconomics and the pace of technological innovation. NGP has built a platform from which we can gain that understanding and apply it in the investment arena."

NGP Energy Capital Management is the premier investment franchise in the energy industry. Its platform includes the Natural Gas Partners family of private equity funds and their companion co-investment funds, NGP Capital Resources Company (NASDAQ: "NGPC"), a $261 million publicly-traded business development company that focuses on providing senior debt and mezzanine capital to the energy industry and NGP Energy Technology Partners, L.P.

NGP Energy Capital Management is based in Irving, Texas and can be reached at [phone] and at [e-mail].