Lime Rock Resources Acquires Oil and Gas Properties in New Mexico for $130 million

Formed in 2005, Lime Rock Resources acquires, operates, and improves lower-risk oil and gas properties in the United States. With over $850 million of private capital under management and an estimated acquisition capacity of $1.5 billion, Lime Rock Resources seeks to acquire a diverse group of proved oil and gas properties to provide its investors with attractive long-term returns.

Lime Rock Resources, acquirers and operators of producing oil and gas properties in the United States, today announced that it has successfully closed the acquisition of oil and gas interests in the East Artesia areas of Lea and Eddy Counties, New Mexico for $130 million.

The properties were acquired from a publicly traded oil and gas company. The Lime Rock Resources team assumed operations of over 350 producing wells in December 2010 and is beginning the assessment of development drilling and operational improvement projects.

The East Artesia acquisition represents the fifth major acquisition by the Lime Rock Resources team in New Mexico since 2006 and fourth since 2008. The team now operates over 1,000 wells and produces over 5,000 barrels per day of oil and gas equivalent in New Mexico alone, making it one of the state’s top 20 producers.

The Lime Rock Resources team has made nearly $1 billion of acquisitions since its inception in 2005.

Eric Mullins, co-CEO of Lime Rock Resources, said:
‘We are happy to have had an opportunity to acquire the East Artesia properties, which we have now integrated into operations with our four previous acquisitions in southeast New Mexico. The latest acquisition perfectly fits our strategy to acquire these lower-risk producing oil and gas properties in our core areas of operations. Prior to completing this transaction, we had been in discussions with the seller for much of 2010 on how we could both optimize and rationalize our assets. The final transaction, completed at a fair price in straightforward discussions, allowed both of us to achieve our goals. We look forward to working with this and other sellers on similar mutually beneficial transactions.’

Charlie Adcock, co-CEO of Lime Rock Resources, added:
‘We seek to buy mature properties, often beneath the ideal scale for sellers to dedicate the manpower or strategic focus to work these lower-risk, lower-return fields to their fullest potential. We then look to generate additional value from those fields by both having a strategy tailor-made for those types of assets and by buying properties in and around our existing operations. This allows us to achieve efficiencies of scale and, just as important, apply the lessons we have learned in continuous development drilling and operational improvement projects in New Mexico since 2006.’

Short URL:

Posted by on Jan 13 2011. Filed under Energy. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

68 Comments for “Lime Rock Resources Acquires Oil and Gas Properties in New Mexico for $130 million”

  1. Unquestionably believe that which you said. Your favorite justification seemed to be on the net the simplest thing to be aware of. I say to you, I certainly get annoyed while people think about worries that they plainly don’t know about. You managed to hit the nail upon the top and defined out the whole thing without having side effect , people could take a signal. Will likely be back to get more. Thanks

  2. One of the additional outstanding blogs Ive seen. Thanks so a lot for preserving the internet classy for a alter. Youve received design, class, bravado. I imply it. Please continue to keep it up because without the net is certainly lacking in intelligence.

  3. Good material from you, man. Ive understand your goods ahead of and youre just too amazing. I really like what youve got listed here, appreciate what youre saying and the way you say it. You allow it to be entertaining and you also even now take care of to keep it wise. I cant wait around to go through much more from you. This is actually a great web site.

  4. I do believe that this certain blog was ever most useful in my adventures of blogging. Ever more I think everyone should know and learn the information posted. Good day. :)

  5. I’d like to thank you for the time you took in writing this article. This has been an inspiration for me. I have passed this on to one of my friends.

  6. This is probably one of the best mentions of this topic I’ve seen in quite a while. It’s obvious that your knowledge of the subject is deep and this made for a very interesting read.

  7. I thought this was a fantastic blog, not only great writing but it has a great layout, well done.

  8. I saw something similar on another blog… interesting.

  9. Good to find this blog – very nice article. I’ve bookmarked it and waiting for more…

  10. Finaces are not so easy…

  11. Good work, thanks for writing this.

  12. I admire the valuable information you offer in your articles. I will bookmark your blog and have my children check up here often. I am quite sure they will learn lots of new stuff here than anybody else!

  13. Keep up the useful work with your page. Liked this article. Hello from the UK!

  14. When will you idiotic individuals and trolls get via your thoughts Opinion. Jeez lu’ weez!

  15. Seriously, I really loved reading this blogpost. You have convinced me to subscribe to your blog, but where can I find the RSS feed?

  16. I like this data presented and it has given me some sort of commitment to have success for some reason, so thank you.

  17. tremendous chart you’ve chalk up

  18. I really thought the writing in the blog was very complexed, in a good way.;)

  19. If you keep on posting posts just like this then I’m going to keep on returning back to your website. Impressive material.

  20. Useful info. Fortunate me I found your site accidentally, and I’m surprised why this twist of fate did not took place in advance! I bookmarked it.

  21. Nice article. Interesting topic and method. I will be returning back some time in the near future.

  22. We need something more official from the man that made and uses it!

  23. I like the template that you use. what name you use these templates? if allowed to know where I can get the template as your blog and whether I should change a little, such as colors, images and layout. thanks

  24. As far as me being a member here, I wasn’t aware that I was a member for any days, actually. When the article was published I received a username and password, so that I could participate in Comments, That would explain me stumbuling upon this post. But we’re certainly all intellectuals.

  25. Heya i’m for the first time here. I came across this board and I find It truly useful & it helped me out a lot. I hope to give something back and aid others like you helped me.

  26. Just desire to say your article is as amazing. The clearness in your post is simply nice and i could assume you’re an expert on this subject. Fine with your permission let me to grab your feed to keep up to date with forthcoming post. Thanks a million and please continue the rewarding work.

  27. Dis Blog is on da for real. Hit em hard and hit em fast, Peace PLAYA

  28. It seems too complicated and very general for me to understand.

  29. Well I truly enjoyed studying it. This post procured by you is very practical for accurate planning.

  30. Dis Blog is on da for real. Hit em hard and hit em fast, Peace PLAYA

  31. Blog is good!:) Perhaps you learn me blog myself??

  32. Hello.This article was extremely interesting, especially because I was browsing for thoughts on this issue last couple of days.

  33. Down under. Australia lays on hot grounds. It means that digging down not too deep underground (down under) an individual finds hot stuff. Use this heat to build steam turbines.

  34. Dis Blog is on da for real. Hit em hard and hit em fast, Peace PLAYA

  35. Great blog here i like all the information thats being shared, congratulations.

  36. As far as me being a member here, I wasn’t aware that I was a member for any days, actually. When the article was published I received a notification, so that I could participate in Comments, so perhaps that is it. But we’re certainly all intellectuals.

  37. You completed various good points there. I did a search on the subject matter and found most people will agree with your blog.

  38. Keep working ,remarkable job!

  39. Keep the faith, my Internet friend; You are a first-class writer and deserve to be heard.

  40. Hello.This post was really motivating, especially since I was investigating for thoughts on this subject last couple of days.

  41. Whats up ! Love your ; thanks for sharing it with everyone

  42. Hey, I think there is bad code on the blog. I just attempted to use the links on the menu bar and it diverted me to another website which I have never heard of. Can you help with this?

  43. I do believe that this certain blog was ever most useful in my adventures of blogging. Ever more I think everyone should know and learn the information posted. Good day. :)

  44. Hey very cool blog!! Man .. Excellent .. Amazing .. I’ll bookmark your site and take the feeds also…I am happy to find numerous useful information here in the post, we need develop more techniques in this regard, thanks for sharing. . . . . .

  45. You made some decent points there. I did a search on the subject and found most persons will agree with your blog.

  46. Excellent blog site! I genuinely like how really on my eyes as well because the details are properly written. I am questioning how I might be notified whenever a new post has been developed. I’ve subscribed to your rss feed which need to to complete the trick! Have a very excellent day!

  47. Its like you read my mind! You seem to understand a lot approximately this, like you wrote the ebook in it or something. I believe that you can do with some p.c. to force the message home a little bit, but instead of that, that is excellent blog. A fantastic read. I will definitely be back.

  48. This has left me thinking more about the activity at hand. The way you have communicated the ideas via this blog is amazing. I wish more would compose the way you do.

  49. An interesting dialogue is price comment. I believe that you need to write extra on this matter, it may not be a taboo subject but generally people are not enough to speak on such topics. To the next. Cheers

  50. Lime Rock Resources Acquires Oil and Gas Properties in New Mexico for $130 million | WOODLAWN POST is a good article, thank you for providing this enlightening information. It is always nice when you not only be informed, i will visit your website often for the newest posts.

  51. Right on Brother, great layout, nice opinions, fantastic blog. one in a million. :)

  52. I have been checking out a few of your articles and i can state nice stuff. I will definitely bookmark your blog.

  53. I’d be inclined to concur with you one this subject. Which is not something I typically do! I enjoy reading a post that will make people think. Also, thanks for allowing me to comment!

  54. This is pretty good, but it’s a lot easier said then done.Here’s a pretty good way to learn how to sing better.

  55. You should consider starting an email list. It would take your site to its potential.

  56. It seems too advanced and very broad for me to comprehend.

  57. There is evidently a lot to know about this. I believe you made certain good points in features also.

  58. Man I definetly like this story and it was so fabulous hence I am surely going to bookmark it. I Have to say the Superb research this article has is definetly remarkable !! No one does that additional research now days? Hats off to You !! Just another advise to you is that you canset up some Translator Application for your Worldwide Readers ..

  59. I’m usually to blogging and i really recognize your content. The article has really peaks my interest. I’m going to bookmark your website and maintain checking for brand new information.

  60. This was actually an interesting matter, I am very fortunate to have the ability to come to your blog and I will bookmark this web page in order that I may come again another time.

  61. You made some good points there. I did a search on the theme and found the majority of people will agree with your blog.

  62. You completed several nice points there. I did a search on the issue and found the majority of persons will have the same opinion with your blog.

  63. Thanks for taking time for sharing this article, it was excellent and very informative. as a first time visitor to your blog I am very impressed. I found a lot of informative stuff in your article. Keep it up. Thank you.

  64. Have you consider starting an subscribers list. It would take your site to its potential.

  65. Great artical, I unfortunately had some problems printing this artcle out, The print formating looks a little screwed over, something you might want to look into.

Comments are closed


Featured Links

    Search Archive

    Search by Date
    Search by Category
    Search with Google

    Photo Gallery

    Maserati Store
    Log in | Original Concept by Woodlawn Post© 2011 ALL RIGHTS RESERVED

    Social Widgets powered by