One-Page Deal Sheet
PDC and Lime Rock Partners Forms Marcellus JV
Lime Rock Partners PDC Energy, Inc.
Announced Date
November 02,2009
Close Date
November 02,2009
Transaction Type
JV
Asset/Basin:
{Appalachia,Marcellus}
TargetZones:
{"Marcellus Shale","
Net Acres
Location
Calculated Metrics( EV/Category)
Region
Northeast
Country
United States
State
Pennsylvania
Play
Production Production
Calculated Metrics( EV/Category)
Production ($/Mcfe/d)
Transaction Details: Require Private Equity Subscription
Petroleum Development Corporation and Lime Rock Partners, a leading provider of growth capital to energy companies worldwide, today announced the formation of PDC Mountaineer, LLC, a joint venture company (“JV”) principally focused in the Marcellus Shale region.
PDC will contribute acreage, producing properties, reserves and related gathering assets valued at approximately $158.5 million. Lime Rock funded $45 million as a return of capital at closing, and PDC has an option to take a second cash contribution of $11.5 million by year-end 2010. Subject to agreement provisions, Lime Rock has an…
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