Wellspring Energy Resources Secures Equity Commitment from NGP Energy Capital Management

Wellspring Energy Resources, a leading energy company, is pleased to announce a significant equity commitment from NGP Energy Capital Management. This partnership will enable Wellspring to pursue various opportunities in the oil and gas sector in North America, including non-operated oil and gas working interests, development financings, structured transactions, and other special situations.

Led by CEO Kenny Worrell, Executive Vice President of Land & Business Development Dale Smith, and Executive Vice President of Engineering Ryan Rickett, Wellspring Energy Resources boasts a highly experienced executive team. The team has previously founded private companies investing in both operated and non-operated properties, with expertise across major basins in North America.

The collaboration with NGP Energy Capital Management positions Wellspring for success by tapping into a traditionally underserved segment of the oil and gas ecosystem. The collective experience of the Wellspring team, coupled with NGP's thoughtful partnership approach, is expected to generate attractive risk-adjusted returns.

"We are excited to partner with NGP to build a portfolio of assets and investments that generate attractive risk-adjusted returns in the oil and gas sector. The Wellspring team believes our collective experience will position us for success in targeting a traditionally under-served segment of the broader oil and gas ecosystem. Having worked with the NGP principals previously, we know them to be thoughtful partners who will add greatly to Wellspring’s success," said CEO Kenny Worrell.

NGP Energy Capital Management shares the excitement about the partnership. Brian Seline, a partner at NGP, expressed his confidence in Wellspring's operational experience, business development capabilities, and investment acumen. Together, they are well-positioned to execute the strategic vision and achieve remarkable results.

Wellspring Energy Resources focuses on partnering with energy companies and owners to provide flexible capital solutions. Their expertise lies in the acquisition of non-operated interests, development financing, and structured transactions. With this equity commitment from NGP, Wellspring can further expand its capabilities and deliver value to its partners.

NGP Energy Capital Management is a premier private equity firm that believes energy is essential to progress. Established in 1988, NGP is committed to investing in innovation and empowering energy entrepreneurs in natural resources and energy transition. With over $20 billion of cumulative equity commitments, NGP supports portfolio companies that responsibly solve and secure today's energy needs while leading the way toward a cleaner, more reliable, and more affordable energy future.

For more information about Wellspring Energy Resources, please visit [www.wellspring-energy.com](https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.wellspring-energy.com&esheet=53747262&newsitemid=20231106786131&lan=en-US&anchor=www.wellspring-energy.com&index=1&md5=1440879cd5f7d9f536f0502991c92768).

To learn more about NGP Energy Capital Management, please visit [www.ngpenergy.com](https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.ngpenergy.com&esheet=53747262&newsitemid=20231106786131&lan=en-US&anchor=www.ngpenergy.com&index=2&md5=2a2756f116603878a6732a632d9138f9).

In conclusion, the equity commitment from NGP Energy Capital Management is a significant milestone for Wellspring Energy Resources. With their combined expertise and resources, the partnership is poised to capitalize on emerging opportunities in the oil and gas industry. This collaboration promises to create attractive risk-adjusted returns and contribute to a cleaner and more reliable energy future.