Lime Rock Agrees to Acquire Delaware Basin Property for $508.3 Million

Source: www.gulfoilandgas.com 7/26/2021, Location: North America

Lime Rock Resources, acquirers and operators of producing oil and gas properties in the United States, announced that it has reached a definitive agreement to buy oil and gas properties in the Delaware Basin of Texas for $508.3 million from a private seller. The transaction is expected to close on September 30. The acquired property is primarily in Loving County, Texas. As of the April 1, 2021 transaction effective date, the property was producing 15,163 barrels of oil equivalent per day.

Eric Mullins, Chairman and CEO of Lime Rock Resources, said, “The high volatility in the energy business over the last 18 months has created some unique opportunities in the oil and gas property market. This acquisition is one of those opportunities, which fits quite well the Lime Rock Resources acquisition strategy.” Charlie Adcock, Vice-Chairman of Lime Rock Resources, added, “We look forward to taking over operations in a few months to optimize existing production and pursue other value-creating initiatives.”


United Kingdom >>  9/16/2021 - Kibo Energy PLC, the renewable energy focused development company, is pleased to announce that it has signed a Heads of Terms (the "Agreement") with E...
Egypt >>  9/15/2021 - Pharos Energy plc is pleased to announce that the Pharos Group has entered into conditional agreements for the farm-out and sale of a 55% working inte...

United States >>  9/15/2021 - Warwick Investment Group announced it closed an agreement to acquire operated oil and gas assets in Texas's Eagle Ford Shale from Rosewood Resources. ...
United Kingdom >>  9/13/2021 - Rolls-Royce (RYCEY) announces the agreed sale of its 23.1% shareholding in AirTanker Holdings Limited to Equitix Investment Management Limited for cas...

United States >>  9/13/2021 - Mitsubishi Heavy Industries (MHI) Group in partnership with Osaka Gas USA has purchased equity interest in the Brighter Future Solar Farm from project...
Australia >>  9/10/2021 - The Northern Territory Government has provided its regulatory approval to Cue in relation to the transaction to acquire Amadeus Basin assets from Cent...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.