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Lime Rock Resources Acquires Two Properties For $358.5 Million

Jan 04, 2022•almost 4 years ago

Acquiring Company

Lime Rock Resources

Acquired Company

Two Properties

Description

Lime Rock Resources, acquirers and operators of producing oil and gas properties in the United States, announces two acquisitions today. It has acquired the Williston Basin properties of Abraxas Petroleum for $87.2 million. It has also acquired properties from a private seller in the Austin Chalk and Eagle Ford in Texas for $271.3 million. Over the last four months, the Lime Rock Resources team has made over $850 million in total property acquisitions.

Company Information

Company

Lime Rock Resources

About

Based in Houston, the Lime Rock Resources team acquires, operates, and improves producing oil and gas properties in the United States. The team has acquired properties in select oil and gas basins nationwide as it seeks to provide its investors with attractive long-term returns. Established in 1998, Lime Rock Management has raised $9.8 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. SOURCE Lime Rock Resources

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed