Lime Rock Resources
Lime Rock Resources specializes in acquiring, improving, and producing oil and gas properties, having made over 35 major acquisitions since 2005 and managing significant assets across multiple states.
Services
Lime Rock Resources specializes in acquiring, improving, and producing oil and gas properties. The company focuses on mature properties with long-term production histories and predictable production profiles. It prioritizes investments in the United States, targeting assets that offer additional drilling opportunities or operational improvements. Lime Rock Resources manages all aspects of the oil and gas acquisition process from individual assets to multi-property, multi-basin packages, engaging in both negotiated deals and competitively marketed processes.
History
Founded in 2005, Lime Rock Resources has made over 35 major acquisitions since its inception. The company is known for its strategic approach to property acquisition and management, particularly its preference for mature oil and gas properties. With a focus on maximizing reserves and production, Lime Rock Resources has drilled or participated in over 935 wells up to the end of 2021. The company has established a significant presence in various regions, including the Williston Basin where it has been an active operator since 2014.
Major Acquisitions
Lime Rock Resources has a track record of significant acquisitions. In January 2022, the company acquired two properties for $358.5 million, including approximately 3,500 acres in McKenzie County, North Dakota from Abraxas Petroleum. The same year, it acquired properties in the Austin Chalk and Eagle Ford formations in Texas for $271.3 million, which produced approximately 7,700 BOE per day. The company manages approximately 19,400 BOE per day of net production in North Dakota and oversees 46,000 highly contiguous net acres in Burleson, Milam, and Robertson Counties, Texas.
Private Capital and Investments
Since 1998, Lime Rock Resources, through its management arm Lime Rock Management, has raised a total of $9.9 billion in private capital commitments. Lime Rock Resources V and an affiliated vehicle successfully closed at $538 million. The company has built a robust portfolio by selectively acquiring non-operated interests and engaging in creative transaction strategies, including two-part transactions. This has enabled Lime Rock Resources to consistently secure high-value investments while maintaining flexibility in its operations.
Operations and Engineering Focus
Lime Rock Resources emphasizes an intensive engineering and operations focus to increase reserves, production, and margins. The company operates with a large team spread across field offices in four states, allowing for efficient integration of new properties. Lime Rock's engineering team works diligently to enhance production capabilities through targeted reinvestments in operational improvements and additional drilling opportunities. This approach ensures the optimal performance and profitability of the acquired properties.