M&A Deal Summary

Lime Rock Partners Acquires Prairie Energy

On May 1, 2023, private equity firm Lime Rock Partners acquired oil/gas exploration company Prairie Energy

Acquisition Highlights
  • This is Lime Rock Partners’ 39th transaction in the Oil/Gas Exploration sector.
  • This is Lime Rock Partners’ 50th transaction in the United States.
  • This is Lime Rock Partners’ 5th transaction in Colorado.

M&A Deal Summary
Date 2023-05-01
Target Prairie Energy
Sector Oil/Gas Exploration
Buyer(s) Lime Rock Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Prairie Energy

Englewood, Colorado, United States
Prairie Energy is focused on acquiring minerals assets, and some non-op interests, across U.S. shale basins. Prairie Energy was founded in 2022 and is based in Englewood, Colorado.

Search 201,292 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

Lime Rock Partners

Westport, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 10.4B USD
Size Mega
Type Sector Focused
DESCRIPTION

Lime Rock Partners is a private investment firm focused on growth capital investments in the energy industry. Specifically, Lime Rock looks for companies engaged in exploration & production, energy service, and oil service technology in North America and Europe. Lime Rock's target investment size is $50 to $150 million in businesses valued up to $500 million. Lime Rock Partners was formed in 1998 and is affiliated with Lime Rock Resources. Lime Rock Partners has offices in Westport, Connecticut; Aberdeen, Scotland; and Houston, Texas.

DEAL STATS #
Overall 90 of 92
Sector (Oil/Gas Exploration) 39 of 40
Type (Buyout (LBO, MBO, MBI)) 56 of 58
State (Colorado) 5 of 5
Country (United States) 50 of 51
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-06 Cor4 Oil

Calgary, Alberta, Canada

Cor4 Oil is an E&P company developing conventional oil assets. The company is focused on maximizing the value of its assets through technical and operational improvements. Cor4 Oil is based in Calgary, Alberta.

Sell $62M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-30 Reelwell

Sola, Norway

Reelwell is an oil service technology company developing a new approach to drilling with unparalleled wellbore cleaning and pressure control capability and greatly extended horizontal reach. The Reelwell Drilling Method is a revolutionary new drilling system that improves well control with a closed-loop fluid system, ideally suited for managed pressure drilling. Reelwell was founded in 2004 and is based in Sola, Norway.

Sell -
Mergr

Product

Company

Legal