Sec Form 4 Filing - PennTex Midstream Partners, LLC @ PennTex Midstream Partners, LP - 2015-07-06

Insider filing report for Changes in Beneficial Ownership
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
What is insider trading>>
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Expires: November 30, 2011
Estimated average burden hours per response... 0.5
1. Name and Address of Reporting Person
PennTex Midstream Partners, LLC
2. Issuer Name and Ticker or Trading Symbol
PennTex Midstream Partners, LP [ PTXP]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director X __ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
11931 WICKCHESTER LANE, SUITE 300
3. Date of Earliest Transaction (MM/DD/YY)
07/06/2015
(Street)
HOUSTON, TX77043
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_____ Form filed by One Reporting Person
__ X __ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
COMMON UNITS (LIMITED PARTNER INTERESTS) 07/06/2015 A 651,898 ( 3 ) A $ 0 3,262,019 ( 3 ) D ( 1 ) ( 2 )
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
PennTex Midstream Partners, LLC
11931 WICKCHESTER LANE, SUITE 300
HOUSTON, TX77043
X X
NGP X US Holdings LP
11931 WICKCHESTER LANE, SUITE 300
HOUSTON, TX77043
X X
NGP Natural Resources X, L.P.
5221 N. O?CONNOR BLVD., SUITE 1100
IRVING, TX75039
X X
NGP X Parallel Holdings, L.P.
5221 N. O?CONNOR BLVD., SUITE 1100
IRVING, TX75039
X X
GFW X, L.L.C.
5221 N. O?CONNOR BLVD., SUITE 1100
IRVING, TX75039
X X
G.F.W. Energy X, L.P.
5221 N. O?CONNOR BLVD., SUITE 1100
IRVING, TX75039
X X
NGP Energy Capital Management, L.L.C.
5221 N. O'CONNOR BLVD., SUITE 1100
IRVING, TX75039
X X
Signatures
/s/ Stephen M. Moore, Vice President, General Counsel and Secretary of PennTex Midstream Partners, LLC 07/08/2015
Signature of Reporting Person Date
/s/ Kenneth A. Hersh, Authorized Person of NGP X Holdings GP, L.L.C., general partner of NGP X US Holdings, L.P. 07/08/2015
Signature of Reporting Person Date
/s/ Kenneth A. Hersh, Authorized Member of GFW X, L.L.C., general partner of G.F.W. Energy X, L.P., general partner of NGP Natural Resources X, L.P. 07/08/2015
Signature of Reporting Person Date
/s/ Kenneth A. Hersh, Authorized Member of GFW X, L.L.C., general partner of G.F.W. Energy X, L.P., general partner of NGP X Parallel Holdings, L.P. 07/08/2015
Signature of Reporting Person Date
/s/ Kenneth A. Hersh, Authorized Member of GFW X, L.L.C. 07/08/2015
Signature of Reporting Person Date
/s/ Kenneth A. Hersh, Authorized Member of GFW X, L.L.C., general partner of G.F.W. Energy X, L.P. 07/08/2015
Signature of Reporting Person Date
/s/ Kenneth A. Hersh, Chief Executive Officer of NGP Energy Capital Management, L.L.C. 07/08/2015
Signature of Reporting Person Date
Explanation of Responses:
( 1 )This Form 4 is filed jointly by PennTex Midstream Partners, LLC ("PennTex Development"), NGP X US Holdings, L.P. ("NGP X Holdings"), NGP Natural Resources X, L.P. ("NGP X"), NGP X Parallel Holdings, L.P. ("NGP X Parallel"), GFW X, L.L.C. ("GFW X"), G.F.W. Energy X, L.P. ("GFW Energy X") and NGP Energy Capital Management, L.L.C. ("NGP ECM"), pursuant to the expiration of the underwriters' option to purchase additional common units of the Issuer in connection with the initial public offering of common units representing limited partner interests pursuant to a Registration Statement on Form S-1 (Registration No. 333-199020) (the "Registration Statement").
( 2 )NGP X Holdings owns a 95.1% membership interest in PennTex Development. NGP X Holdings is wholly owned and controlled by its general partner, NGP X Holdings GP, L.L.C. ("NGP X Holdings GP"), and its limited partners, NGP X and NGP X Parallel. NGP X Holdings GP is wholly owned by NGP X. GFW Energy X is the sole general partner of NGP X and NGP X Parallel. GFW X is the sole general partner of GFW Energy X. GFW X has delegated full power and authority to manage NGP X and NGP X Parallel to NGP ECM. Accordingly, each of PennTex Development, NGP X Holdings, NGP X Holdings GP, NGP X, NGP X Parallel, GFW X, GFW Energy X and NGP ECM may be deemed to share voting and dispositive power over the reported units, and therefore may also be deemed to be the beneficial owner of these units but disclaims such ownership except to the extent of its pecuniary interest.
( 3 )On June 18, 2015, the underwriters exercised, in part, their option to purchase additional common units as described in the Registration Statement. On July 6, 2015, as a result of the expiration of the underwriters' option to purchase additional common units, as described in the Registration Statement, the Issuer issued 651,898 common units to PennTex Development for no additional consideration. After giving effect to such deferred issuance, PennTex Development owns 3,262,019 common units and 12,500,000 subordinated units, representing an approximate 39.4% limited partner interest in the Issuer.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.