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Tortoise Energy Independence Fund, Inc. Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Update as of July 31, 2018

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Tortoise Energy Independence Fund, Inc. (NYSE:NDP) today announced that
as of July 31, 2018, the company's unaudited total assets were
approximately $251.0 million and its unaudited net asset value was
$185.4 million, or $12.67 per share.

As of July 31, 2018, the company was in compliance with its asset
coverage ratios under the Investment Company Act of 1940 (the 1940 Act).
The company's asset coverage ratio under the 1940 Act with respect to
senior securities representing indebtedness was 398 percent. For more
information on calculation of coverage ratios, please refer to the
company's most recent applicable prospectus.

Set forth below is a summary of the company's unaudited balance sheet at
July 31, 2018 and a summary of its top 10 holdings.

Unaudited balance sheet

 
    (in Millions)     Per Share
Investments $ 250.2 $ 17.10
Cash and Cash Equivalents 0.3 0.02
Other Assets   0.5   0.03
Total Assets   251.0   17.15
 
Credit Facility Borrowings 62.3 4.26
 
Other Liabilities   3.3   0.22
Net Assets $ 185.4 $ 12.67
 

14.63 million common shares currently outstanding.

 
 

Top 10 holdings (as of July 31, 2018)

 
Name    

 

Ticker

   

Market Value
(in Millions)

   

% of Investment
Securities(1)

Pioneer Natural Resources Company PXD $ 21.7 8.6 %
EOG Resources, Inc. EOG 18.3 7.3 %
Devon Energy Corporation DVN 16.0 6.4 %
Cabot Oil & Gas Corporation COG 15.6 6.2 %
Continental Resources, Inc. CLR 14.4 5.7 %
Diamondback Energy, Inc. FANG 12.9 5.1 %
Concho Resources Inc. CXO 11.5 4.6 %
WPX Energy, Inc. WPX 11.1 4.4 %
EQT Corporation EQT 9.7 3.9 %
Anadarko Petroleum Corporation APC   9.3 3.7 %
Total

 

$ 140.5 55.9 %
 

(1) Percent of Investments and Cash Equivalents.

 
 

About Tortoise Energy Independence Fund, Inc.

Tortoise Energy Independence Fund, Inc. (NYSE:NDP) is a
non-diversified, closed-end management investment company that seeks to
obtain a high level of total return with an emphasis on current
distributions. NDP invests primarily in North American energy companies
that engage in the exploration and production of crude oil, condensate,
natural gas and natural gas liquids.

About Tortoise

Tortoise specializes in essential assets and income. Tortoise invests in
assets and services that serve essential needs in society and can also
serve essential client needs, such as diversification and income.
Tortoise's energy investing expertise across the energy value chain,
including infrastructure and MLPs, dates back more than 15 years.
Through a variety of investment vehicles, Tortoise provides access to a
wide range of client solutions, focused on their evolving needs. For
more information, please visit www.tortoiseadvisors.com.

Tortoise Capital Advisors is the Adviser to the Tortoise Energy
Independence Fund, Inc.

Safe harbor statement

This press release shall not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of these securities in
any state or jurisdiction in which such offer or solicitation or sale
would be unlawful prior to registration or qualification under the laws
of such state or jurisdiction.

Forward-looking statement

This press release contains certain statements that may include
"forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. All statements, other than statements of historical fact, included
herein are "forward-looking statements." Although the Company and
Tortoise Capital Advisors believe the expectations reflected in these
forward-looking statements are reasonable, they do involve assumptions,
risks and uncertainties, and these expectations may prove to be
incorrect. Actual results could differ materially from those anticipated
in these forward-looking statements as a result of a variety of factors,
including those discussed in the Company's reports that are filed with
the Securities and Exchange Commission. You should not place undue
reliance on these forward-looking statements, which speak only as of the
date of this press release. Other than as required by law, the Company
and Tortoise Capital Advisors do not assume a duty to update any
forward-looking statement.

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