Merger • Oil/Gas Exploration

Wayfinder Resources Acquires Prime Rock Resources

On March 1, 2022, Wayfinder Resources acquired oil/gas exploration company Prime Rock Resources from Lime Rock Partners

Acquisition Context
  • This is Wayfinder Resources’ 1st transaction in the Oil/Gas Exploration sector.
  • This is Wayfinder Resources’ 1st transaction in the United States.
  • This is Wayfinder Resources’ 1st transaction in Texas.

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M&A Deal Summary

Date March 1, 2022
Target Prime Rock Resources
Sector Oil/Gas Exploration
Buyer(s) Wayfinder Resources
Sellers(s) Lime Rock Partners
Deal Type Merger

Target Company

Prime Rock Resources

Midland, Texas, United States
Prime Rock Resources is an oil and gas producing company targeting the acquisition and development of positions in the Delaware Basin. Prime Rock Resources is based in Midland, Texas.
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Buyer Overview 1

Buyer

Wayfinder Resources

Houston, Texas, United States

Category Company
Founded 2017
Sector Oil/Gas Exploration
DESCRIPTION

Wayfinder Resources is an oil and gas exploration and production company. Wayfinder Resources currently targets the acquisition of oil and gas leases, working interests, mineral rights and royalty interests throughout the greater Merge/SCOOP/STACK trend. Wayfinder Resources was founded in 2017 is based in Houston, Texas.


Deal Context for Buyer #
Overall 1 of 1
Sector: Oil/Gas Exploration 1 of 1
Type: Merger 1 of 1
State: Texas 1 of 1
Country: United States 1 of 1
Year: 2022 1 of 1

Seller Profile 1

SELLER

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 Context for Seller #
Overall 54 of 62
Sector: Oil/Gas Exploration 19 of 23
Type: Merger 1 of 1
State: Texas 13 of 15
Country: United States 26 of 29
Year: 2022 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-07 Reveal Energy Services

Houston, Texas, United States

Reveal Energy Services is a provider of fast, accurate, and cost-effective maps of hydraulically induced fractures to the energy industry. With the flagship IMAGE Frac pressure-based fracture geometry service and companion DiverterSCAN technology and ProppantSCAN technology solutions, the company offers unparalleled diagnostic insight into well and stage spacing decisions, completions design effectiveness, and the influence of nearby hazards. Reveal Energy Services was founded in 2016 and is based in Houston, Texas.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-31 SDI Gas

Mt. Morris, Pennsylvania, United States

SDI Gas is an oilfield service company operating in the Marcellus and Utica Shales through two divisions: MEC, providing engineering, construction, and repair of natural gas compression stations, and HDD, providing directional drilling of gas pipelines under obstructions. SDI Gas was founded in 2015 and is based in Mt Morris, Pennsylvania.

Sell -