Company: SRV
Filing Date: 2025-10-22
Form Type: N-2/A
Source: 0001398344-25-019582
Chunk: 10

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-10-22
Form: N-2/A
Chunk 10
---
 are subject to change and are subject to inherent risks and uncertainties, such as those disclosed
in the “Risks” section of this Prospectus. You are cautioned not to place undue reliance on these forward-looking statements.
All forward-looking statements contained or incorporated by reference in this Prospectus are made as of the date of this Prospectus.
Except for the Fund’s ongoing obligations under the federal securities laws, the Fund does not intend, and the Fund undertakes
no obligation, to update any forward-looking statement. The Fund is not entitled to the safe harbor for forward-looking statements pursuant
to Section 27A of the Securities Act of 1933.

Currently known risk factors
that could cause actual results to differ materially from the Fund’s expectations include, but are not limited to, the factors
described in the “Risks” section of this Prospectus. The Fund urges you to review carefully this section for a more detailed
discussion of the risks of an investment in the Fund’s securities.

PROSPECTUS SUMMARY This is only a summary of information contained elsewhere in this prospectus (the “Prospectus”). This summary does not contain all of the information that you should consider before investing in the Fund’s securities. In particular, you should carefully read the more detailed information contained in this Prospectus and the statement of additional information, dated , 2025 (the “SAI”), especially the information set forth under the heading “Risks.”

| The Fund        | NXG Cushing® Midstream Energy Fund is a non-diversified, closed-end management investment company registered under the 1940 Act that commenced investment operations on August 27, 2007. The Fund’s Investment Adviser is Cushing® Asset Management, LP d/b/a NXG Investment Management.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|:----------------|:-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| The Offering    | The Fund may offer, from time to time, up to $500,000,000 aggregate initial offering price of common shares of beneficial interest, par value $0.001 per share (“Common Shares”), and/or subscription rights to purchase Common Shares (“Rights” and together with the Common Shares, “Securities”) in one or more offerings in amounts, at prices and on terms set forth in one or more supplements to this Prospectus (each a “Prospectus Supplement”). You should read this Prospectus and any related Prospectus Supplement carefully before you decide to invest in the