One-Page Deal Sheet
Petroleum Development Corp., Lime Rock Resources Announce Marcellus Joint Venture
Lime Rock Resources Petroleum Development Corporation
Announced Date
November 02,2009
Close Date
November 02,2009
Transaction Type
JV
Enterprise Value (EV)($MM)
159
Asset/Basin:
{Appalachia,"Marcellus Shale"}
TargetZones:
{"Marcellus Shale","
Net Acres
Net Operated Locations:
Transaction Details: Subscribe to see
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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