An investor in Oklahoma City’s Chesapeake Energy reports the sale of more than half a million shares in the company but it’s considered a small amount compared to the shares it still holds.
In a filing with the Securities Exchange Commission, NGP Energy Capital Management LLC based in Irving, Texas stated it disposed of more than 568,000 shares in Chesapeake. Each share was sold for $3.25 and the sales occurred on March 26.
However, NGP Energy Capital Management still owns more than 312 million shares in the Oklahoma City company.
NGP’s website indicated the 31-year old company has a family of private equity investment funds with $20 billion of cumulative equity commitments in the energy sector. In the 31 years since it was founded, the company has invested in more than 360 transactions with more than 210 companies.