Hibernia III backed for Texas acquisitions

Hibernia Energy III LLC, Houston, has received equity commitments of $250 million from NGP through NGP Natural Resources XII LP and will acquire and develop unconventional oil and gas properties in Texas.

Hibernia Energy III LLC, Houston, has received equity commitments of $250 million from NGP through NGP Natural Resources XII LP and will acquire and develop unconventional oil and gas properties in Texas.

The Hibernia group formed, operated, and sold two earlier partnerships focused on the Permian basin and funded by NBP, a private equity firm. Managers will commit $21 million to the new venture.

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