Lime Rock Resources Banks $754 Million For New Fund
Lime Rock Resources IV closed today today with $754 million in capital committments. The fund will focus on acquire, improve and operate oil and gas properties. The fund was launced back in November of 2015.
Since inception in 2005, the Lime Rock Resources funds have made 23 major acquisitions in basins throughout the United States, primarily in Texas, Oklahoma, New Mexico, and North Dakota.
About Lime Rock Resources:
The Lime Rock Resources team acquires, operates, and improves producing oil and gas properties in the United States. Based in Houston, the Lime Rock Resources team is acquiring a diverse group of proved oil and gas properties to provide its investors with attractive long-term returns. Established in 1998, Lime Rock Management has raised $6.6 billion in private equity funds for investment in the energy industry through Lime Rock Resources and Lime Rock Partners, investors of growth capital in E&P and oilfield services companies worldwide.
Executive Team:
- Eric Mullins - Managing Director & Co-CEO
Eric Mullins is the co-Chief Executive Officer of the Lime Rock Resources team and has jointly led the team since co-founding the Lime Rock Resources strategy in 2005. Mr. Mullins oversees all strategic, financial, and operational aspects of the Lime Rock Resources funds. Prior to joining Lime Rock, Mr. Mullins served as a Managing Director in the Investment Banking Division of Goldman Sachs where he led numerous financing, structuring, and strategic advisory transactions for public and private E&P companies in the division’s Natural Resources Group. He spent the last 10 years of his 15-year career in Goldman Sachs’ Houston office. Mr. Mullins serves on the board of directors for Anadarko Petroleum Corporation and PG&E Corporation. He is also on the board of trustees of the Baylor College of Medicine. He is a graduate of Stanford University (A.B.) and the Wharton School of the University of Pennsylvania (M.B.A.).
- Charlie Adcock – Managing Director & Co-CEO
Charlie Adcock is the co-Chief Executive Officer of the Lime Rock Resources team and has jointly led the team since co-founding the Lime Rock Resources strategy in 2005. He oversees all strategic, financial, and operational aspects of the Lime Rock Resources funds. Mr. Adcock has 37 years of experience at independent E&P companies in the United States, encompassing operations, acquisitions, strategic planning, and senior management. Through 2004, Mr. Adcock spent 12 years at The Houston Exploration Company in various operations and senior management positions, including as a Senior Vice President responsible for all operational and financial performance of one of the company’s two business units and, prior to that, as head of its acquisitions group. Prior to joining Houston Exploration, Mr. Adcock held various engineering and managerial positions with NERCO Oil & Gas, Union Texas Petroleum, Apache Corporation, American Natural Resources, and Aminoil USA. He is a graduate of Texas A&M University (B.S.) with a degree in civil engineering and the University of St. Thomas (M.B.A.).
- Tim Miller – COO
Tim Miller joined the Lime Rock Resources team in 2005 to lead the operations function and is now Executive Vice President of Operations and Chief Operating Officer. He leads all daily operations, drilling and other operational improvement projects, land management, and geology efforts across all Lime Rock Resources funds. He has over 30 years of diverse executive, field management, and engineering experience in oil and gas operations in the United States. From 1984 until 2005, Mr. Miller worked at the El Paso Corporation and Coastal Oil and Gas Company before it merged with El Paso in 2001. In 1994, after 12 years working as a petroleum engineer, Mr. Miller took on increasingly larger managerial responsibilities at Coastal and El Paso. He eventually rose to El Paso’s Vice President, Texas Gulf Coast Division, responsible for all of the company’s operations in the area. Mr. Miller is a graduate of the University of Missouri, Rolla (B.S.) with a degree in petroleum engineering and Oklahoma City University (M.B.A.).
Contact:
Heritage Plaza, Suite 4600
Houston, TX 77002
Phone: 713.292.9500
United States Related Financings
| Announced Date | Title | Company | Value($MM) | Financing Type |
|---|---|---|---|---|
| 2020-12-01 | New E&P Startup Scores $1 Billion to Acquire Assets | FourPass Energy, LLC | 900 | Equity |
| 2020-11-30 | Contango Taps Equity Markets for $22MM to Fund Latest Deal | Contango Oil & Gas Co. | 22 | Equity |
| 2020-07-21 | New E&P Scores Capital; On the Hunt for Oil Assets | Vencer Energy | Equity | |
| 2018-09-20 | Mewbourne Energy Partners Taps Equity Markets for $120MM | Mewbourne Energy Partners | 120 | Equity |