HOUSTON, Feb. 16, 2011 (GLOBE NEWSWIRE) -- NGP Capital Resources Company (Nasdaq:NGPC) (the "Company") today announced that effective as of February 16, 2011, John H. Homier, its Chief Executive Officer and President is leaving to assume a new role as a Venture Partner with the Natural Gas Partners funds.
Stephen K. Gardner, the Company's current Chief Financial Officer, Secretary and Treasurer, has been promoted to Chief Executive Officer and President of the Company.
Mr. Gardner, 51, who joined the Company prior to its initial public offering in the fall of 2004, has over eighteen years experience in financial and transactional management in the oil and gas industry. He graduated with a B.A. in Economics from Southwestern University in 1982 and an M.A. in Economics from Columbia University in 1985.Kenneth A. Hersh, Chairman of the Board of Directors of the Company and CEO of NGP Energy Capital Management, commented that, "John was instrumental in helping us launch NGPC in 2004 and has done an outstanding job in building the organization from the ground up. The capability and depth of the Company's entire management team is such that John and I were confident that the transition of leadership of the Company would be seamless and it was the right time for John to take on a new role as a Venture Partner of our Natural Gas Partners funds. John's experience and judgment in the energy finance area will be of value to our entire family of portfolio companies." Mr. Hersh continued, "I have known Steve for over twenty years and worked with him extensively prior to his tenure with the Company. He is a dynamic and capable executive who has been a key player in the development of NGPC since its inception. For the past six years, Steve has done an excellent job as NGPC's CFO and the Board of Directors and I have great confidence in his ability to lead the Company in growing its business to the next level."