HOUSTON, March 7, 2013 (GLOBE NEWSWIRE) -- NGP Capital Resources Company (Nasdaq:NGPC) (the "Company") today announced its financial results for the fourth quarter and full year 2012.
|Highlights for the quarter ended December 31, 2012:|
|Net asset value: $201.3 million, or $9.57 per share|
|Quarterly dividends declared: $0.16 per share|
|Total investment income: $6.1 million|
|Net investment income: $2.8 million, or $0.13 per share|
|Net realized loss on investments: $19.5 million, or $0.92 per share|
|Net unrealized gain on investments: $16.5 million, or $0.78 per share|
|New investments in portfolio securities during the quarter: $14.0 million|
|Redemption of portfolio securities during the quarter: $12.6 million|
|Fair value of portfolio investments at December 31, 2012: $213.6 million|
|Weighted average yield on portfolio investments: 10.0%|
|Number of portfolio companies at December 31, 2012: 14|
Portfolio and Investment Activity
During the quarter ended December 31, 2012, we funded a $14.0 million participation in the Midstates Petroleum Company, Inc. ("Midstates") $600 million private placement of 10.75% Senior Unsecured Notes due 2020 (the "Midstates Notes"). Proceeds from the Midstates Notes offering were primarily used to fund the cash portion of the purchase price for Midstates' acquisition of the assets of Eagle Energy Production, LLC. Also during the fourth quarter of 2012, we received full repayment of Powder River Acquisitions, LLC's Senior Secured Promissory Note of $2.8 million, repayments of advances under the Company's limited-term overriding royalty interest in certain properties operated by ATP Oil & Gas Corporation totaling $5.7 million and other repayments and settlements totaling $4.1 million.