Merging E&P companies intra-portfolio and with E&Ps within other private equity firms’ portfolios is underway, according to Bob Edwards, partner, NGP Energy Capital Management LLC.

NGP merged four in-family E&Ps earlier this year and “we’ve started discussions across private-equity [firms]. There are far too many private companies,” Edwards told attendees at Hart Energy’s 18th annual A&D Strategies and Opportunities conference in Dallas.

Those inter-portfolio mergers will likely be “neighbors that don’t need two pools of G&A.”

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