Wing Resources announced the formation of Wing Resources VIII and $100 million in equity commitments from NGP Royalty Partners III, according to an April 2 press release. (Source: Shutterstock)
Wing Resources announced the formation of Wing Resources VIII and $100 million in equity commitments from NGP Royalty Partners III, according to an April 2 press release.
The formation marks NGP’s latest fund focused exclusively on acquiring mineral and royalty interests, the release stated.
Founded and led by President and CEO Nick Varel, Wing VIII builds on the firm’s mission to acquire “high-quality” mineral and royalty interests across the Permian Basin, the company said.
Wing Resources currently manages more than 3,000 horizontal wells across the Midland and Delaware basins, “making it one of the largest private holders of mineral and royalty interests in the basin,” the release said.
“We’re excited to continue our partnership with NGP and launch Wing VIII with fresh capital and renewed momentum,” Varel said. “Our track record speaks for itself—our team’s deep technical and transactional expertise, paired with patient capital and long-term vision, allows us to offer mineral and royalty owners competitive, upfront value in a market where certainty and speed matter.”
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