Aker Solutions Acquires Managed Pressure Operations (MPO)

  Aker Solutions Acquires Managed Pressure Operations (MPO)

Aker Solutions acquires NGP Energy Technology Partners portfolio company
Managed Pressure Operations, a leading provider of managed pressure drilling
solutions for the worldwide oil & gas industry.

Business Wire

HOUSTON -- March 7, 2013

Managed Pressure Operations International Ltd. (“MPO”), an oilfield services
and technology company, with locations in Singapore, Dubai, Houston, and
Indonesia, announced today that it was acquired by Aker Solutions, a global
oilfield services provider. MPO, a company that provides technologically
advanced and cost-effective continuous circulation and managed pressure
drilling (“MPD”) systems, was an NGP Energy Technology Partners (“NGP ETP”)
portfolio company. NGP ETP, a private equity firm that manages approximately
$500 million in capital commitments, focuses on investments in energy
technology and service companies. MPO was advised by investment bank Tudor,
Pickering, Holt & Co. and the law firms of BoyarMiller and Schjodt. Terms of
the deal were not disclosed.

MPO has successfully developed the next generation of continuous circulation,
riser gas handling and managed pressure drilling systems. The acquisition
places Aker Solutions at the forefront of technology development in the market
for MPD which is now viewed as a key technology enabling better drilling
performance and safety. The company has also developed a new generation riser
gas handling system to capture and safely handle gas in the riser.

“NGP ETP has been a great partner to MPO since its formation and has provided
financial resources and strategic advice to the company to help it manage its
accelerated growth and continual development of specialized drilling
solutions,” said Charlie Orbell, Chief Executive Officer of MPO.

“It has been exciting to be a part of MPO’s rapid growth and been impressive
to watch the team develop and deliver innovative MPD solutions to the
industry,” said Michael LeBourgeois and Bruce Schulman with NGP ETP. Phil
Deutch, Managing Partner of NGP ETP, said “Investing in oil and gas
technologies is a core component of our overall investment strategy and an
area in which we are able leverage our affiliation with Natural Gas Partners
and continue to have success.”

About NGP Energy Technology Partners

NGP Energy Technology Partners ("NGP ETP") invests equity capital for growth
and buyout transactions in companies that provide products and services to the
oil and gas, power, energy efficiency, and alternative energy sectors. Founded
in 2005, NGP ETP manages approximately $500 million in committed capital and
is led by investment professionals that have extensive experience investing in
virtually all types of energy and energy technology. The investment team
strives to partner with strong, experienced management teams and work with
them to create significant value. NGP ETP is an affiliate of NGP Energy
Capital Management (“NGP ECM”). Founded in 1988, NGP ECM is a premier
investment franchise in the natural resources industry, which together with
its affiliates has managed approximately $13 billion in cumulative committed
capital since inception. NGP ECM’s investment platform includes Natural Gas
Partners, NGP Global Adaptation Partners, NGP Capital Resources Company
(NASDAQ: “NGPC”) and NGP Energy Technology Partners. NGP ETP is headquartered
in Washington, D.C. and has an office in New Orleans, LA.



NGP Energy Technology Partners
Phil Deutch, 202-536-3920
Managing Partner NGP ETP
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