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TheStreet Open House

NGP Capital Resources Company Q1 2010 Earnings Call Transcript

NGP Capital Resources Company (NGPC)

Q1 2010 Earnings Conference Call

May 6, 2010 11:00 AM ET

Executives

John Homier – President and CEO

Steve Gardner – CFO

Kelly Plato – SVP

Analysts

Greg Mason – Stifel Nicolaus

Jasper Birch – Macquarie

Pavel Molchanov – Raymond James

Ralph Rueben [ph]

Bob Walt [ph] – NGPC

Presentation

Operator

Ladies and gentlemen, welcome to your NGP Capital Resources Company’s first quarter 2010 earnings call. At this time all lines are in a listen-only mode with Q&A session to follow.

(Operator Instructions)

As a reminder, this conversation is being recorded.

Now I would like to turn the call over to your host, NGPC’s President and CEO John Homier. Sir you may begin.

John Homier

Good morning everyone and thank you for joining us today on this call to discuss our results for the first quarter of 2010. As usual, with me today on the call are Steve Gardner, our Chief Financial Officer and Kelly Plato, our Senior Vice President who heads our investment team.

After my opening remarks, Steve will provide a summary of our financial performance for the first quarter and will provide an update on our recently announced restatement. Following Steve, Kelly will discuss our targeted investment portfolio, specifically Alden co-company investment and several other meaningful investments in that portfolio.

I will conclude our presentation with a summary of our overall portfolio performance and investment quality. After that we’ll take questions from those of you who have called in.

As we discussed in our last call in early April, we continue to believe that we have successfully weathered the economic downturn and its effects on the energy markets that we serve. We feel that we are now in an excellent position for growth and expansion of our business in our investment portfolio. As Steve and Kelly will discuss, NGPC continues to generate net investment income and dividend, manage its financial leverage, see improving performance in our existing portfolio as well as position itself to add new investments into that portfolio.

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