Lime Rock amasses $538m for fifth energy fund

Lime Rock Partners has raised $538 million for its fifth energy fund. As with the previous funds, Lime Rock Resources V will focus on acquiring, improving and directly operating producing oil and gas properties in the U.S. Morgan, Lewis & Bockius LLP served as fund counsel. Founded in 1998, Lime Rock has offices in Houston and Westport, Connecticut.

PRESS RELEASE

HOUSTON, March 14, 2022 /PRNewswire/ — Lime Rock, a private equity firm focusing on the global energy sector, today announces the closing of its fifth Lime Rock Resources fund, Lime Rock Resources V, with $538 million in aggregate capital commitments to the fund and an affiliated co-investment vehicle. As with the four previous Lime Rock Resources funds, the Houston-based Lime Rock Resources team will seek to acquire, improve, and directly operate producing oil and gas properties in the United States.

Since inception in 2005, the Lime Rock Resources funds have made 36 major acquisitions in basins throughout the United States. Fund V, before its final close, had made four previously announced acquisitions, including producing properties in the Delaware Basin, Williston Basin, and Eagle Ford/Austin Chalk, as well as an overriding royalty interest in the Gulf of Mexico.

Eric Mullins, Chairman and Chief Executive Officer of the Lime Rock Resources team, said, “We are grateful for the support of longstanding investors and new limited partners in Fund V. We believe that the market for producing oil and gas properties in the United States is benefiting from capital flight, industry rationalization, lingering impacts of the 2020 oil price collapse, and strong current commodity fundamentals. We look forward to executing our operational plan on the properties we’ve already bought in Fund V as well as making new acquisitions.”

Morgan, Lewis & Bockius LLP served as fund counsel, working closely with the Lime Rock Resources team to structure the fund and close each of the investor commitments.

Established in 1998, Lime Rock Management has raised $9.9 billion in private equity funds for investment in the energy industry through Lime Rock Resources, Lime Rock Partners, and Lime Rock New Energy.

For more information, please visit www.limerockresources.com.