Natural Gas Partners Teams up with Charlie Stephenson and Former Samson and Sandridge Executives to Create Bravo Natural Resources, LLC with $200 Million Equity Commitment
IRVING, Texas, December 23, 2013-- Bravo Natural Resources, LLC (“Bravo”) is pleased to announce it has raised over $200 million of equity commitments from Natural Gas Partners (“NGP,”) through its most recently closed fund, NGP Natural Resources X, L.P., and the Bravo management team. Based in Tulsa, Oklahoma, Bravo is an exploration and production company focused on conventional and unconventional acquisitions in select onshore basins in North America.
To date, Bravo Chief Executive Officer Charlie Stephenson has successfully built and sold four Mid-Continent based companies with NGP. Robert Schaffitzel, President and Chief Operating Officer of Bravo, is joining the Bravo leadership team after working in senior executive management roles at Samson Resources for over 15 years. Additionally, Trent Richey has joined Bravo as Chief Financial Officer. Prior to Bravo, Richey served as Vice President and Treasurer of Sandridge Energy.
Stephenson believes his long-standing relationship with NGP will prove beneficial.
“We have worked with NGP for more than 15 years, with each investment providing superior returns for our shareholders. Robert, Trent and I, together with the entire Bravo team, look forward to another highly successful venture with NGP,” Stephenson said.
“NGP is excited and grateful to partner with Charlie yet again,” Kenneth Hersh, Chief Executive Officer of NGP, said. “We have known Robert Schaffitzel and Trent Richey for years and are excited to welcome them into the NGP family.”
About Natural Gas Partners
Founded in 1988, Natural Gas Partners (NGP) is a $10.5 billion family of private equity investment funds organized to make investments in the natural resources sector. NGP is part of the investment platform of NGP Energy Capital Management, a premier investment franchise in the natural resources industry, which together with its affiliates has managed approximately $13 billion in cumulative committed capital since inception.
For Information: www.naturalgaspartners.com or www.ngpenergycapital.com
Bravo Natural Resources, LLC
Charles Stephenson, CEO, 918-936-4253
Robert Schaffitzel, President and C.O.O., 918-936-4250
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