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Investment Summary

Lime Rock Resources Exits AccessESP

On July 27, 2022, Baker Hughes invested in energy services and equipment company AccessESP from Lime Rock Resources

Investment Highlights
  • This is Baker Hughes’ 8th transaction in the Energy Services and Equipment sector.
  • This is Baker Hughes’ 11th transaction in the United States.
  • This is Baker Hughes’ 7th transaction in Texas.

Investment Summary
Date 2022-07-27
Target AccessESP
Sector Energy Services and Equipment
Investor(s) Baker Hughes
Sellers(s) Lime Rock Resources
Deal Type Add-on Acquisition

Target

AccessESP

Houston, Texas, United States
AccessESP is a provider of unique rigless ESP conveyance solutions for the global oil industry. AccessESP has integrated two practical technologies into a solution that radically simplifies the conveyance of ESPs without the use of a rig. AccessESP clients maximize the value of ESP wells with greatly reduced intervention costs, minimized lost production, and full bore access to the reservoir. AccessESP is based in Houston, Texas.

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Investor(S) 1

Investor

Baker Hughes

Houston, Texas, United States
Category Company
Sector Energy Services and Equipment
Employees57,000
Revenue 27.8B USD (2024)
DESCRIPTION

Baker Hughes is a provider of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. The company operates in more than 80 countries helping customers find, evaluate, drill, produce, transport and process hydrocarbon resources. Baker Hughes is headquartered in Houston, Texas.

DEAL STATS #
Overall 20 of 23
Sector: Energy Services and Equipment M&A 8 of 8
Type: Add-on Acquisition M&A Deals 16 of 18
State: Texas M&A 7 of 7
Country: United States M&A 11 of 13
Year: 2022 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-29 Oilfield And Water Management Chemicals

Saudi Arabia

Oilfield And Water Management Chemicals is producing chemicals used in the processes of manufacturing extracted oil and water treatment. Oilfield And Water Management Chemicals was founded in 2022 and is based in Saudi Arabia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-08 BRUSH Group - Power Generation Division

United Kingdom

BRUSH Group's Power Generation Division provides electromechanical equipment, including electric generators, synchronous condensers, electric motors, and associated control power management systems.

Buy -

Seller(S) 1

SELLER

Lime Rock Resources

Houston, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 2.9B USD
Size Large
Type Sector Focused
DESCRIPTION

Lime Rock Resources, an affiliate of Lime Rock Partners, is a private investment firm formed to acquire, operate, and improve lower-risk oil and gas properties. The Group looks for assets throughout the US including mature fields as well as properties with some additional drilling opportunities. Lime Rock Resources was formed in 2005 and is based in Houston, Texas.

DEAL STATS #
Overall 2 of 2
Sector: Energy Services and Equipment M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 2
State: Texas M&A 2 of 2
Country: United States M&A 2 of 2
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-18 BP America Production Co. - Oil & Gas Producing Properties

Houston, Texas, United States

BP America Production Co.'s Oil & Gas Producing Properties are located approximately 50 miles east of Lime Rock Resources.

Buy -
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