Lime Rock Resources Pecos Valley Divestiture Highlights Disciplined Approach to Monetizing Assets at Premium Valuations
Houston, Texas – December 8, 2025 — Lime Rock Resources (“Lime Rock”), a Houston-based energy private equity firm focused on acquiring and operating producing oil and gas properties across the United States, announced the successful divestiture of its Pecos County assets in the Permian Delaware Basin held in LRR Fund V, a carve-out from the broader Pecos Valley position. The transaction underscores Lime Rock’s ability to selectively monetize non-core assets at attractive valuations while retaining exposure to higher-quality upside within its portfolio.
Lime Rock originally acquired its Delaware Basin position in 2021, consisting of two properties located in Loving and Pecos Counties, Texas. At the time of acquisition, the Pecos County assets represented approximately 8% of the total value of the Pecos Valley investment. The divested package included 5,940 net acres, approximately 1.2 Mboe/d of production, 29 producing wells, and 70 undeveloped locations.
“The Pecos County asset sale is another example of our disciplined portfolio management approach,” said Eric Mullins, Co-Founder of Lime Rock Resources. “We were able to monetize a non-core position at an attractive valuation while maintaining our core exposure in Loving County, where we see more compelling long-term economics.”
Operationally, the Pecos County assets benefited from a stable production base, which generated consistent cash flow with limited operational complexity. This profile made the assets well suited for an opportunistic sale to a strategic buyer with operational synergies in the area.
The divestiture was completed at a premium to Lime Rock’s latest internal valuation, enhancing overall fund-level returns. The partial exit of the Pecos Valley investment generated a return on investment consistent with underwriting over an approximately four-year holding period and allowed Lime Rock to retain its core Loving County position.
“This transaction reflects our ability to be patient, opportunistic, and highly selective when it comes to divestitures,” said Jonathan Hickman, Chief Operating Officer of Lime Rock Resources. “By retaining the higher-quality Loving County assets, we continue to preserve meaningful upside while delivering strong realized returns through the sale of non-core acreage.”
The Pecos Valley divestiture further demonstrates Lime Rock Resources’ strategy of actively managing its portfolio to maximize value through thoughtful acquisitions, disciplined operations, and selective monetizations.
About Lime Rock Resources
Lime Rock Resources is an energy private equity firm founded in 2005 focused on acquiring and operating producing oil and gas properties across the United States, applying a disciplined, long-term approach to asset ownership and optimization. Lime Rock Resources has built a strong track record of delivering returns through thoughtful operations and targeted acquisitions. It is part of Lime Rock Management, a private equity platform with over $10 billion raised since inception. For more information, please visit www.limerockresources.com.