It’s been a good ride, the fast and furious ramp up and build-out of the shale plays, fueled by a slug of capital looking for quick returns. But it’s the patient money that once ruled oil and gas investments, and is coming to the fore once again as investors call for capital discipline. One company in particular never wavered on that model.

Lime Rock Resources LP, a Houston-based private-equity firm that directly buys and operates its own assets, was formed 15 years ago on an acquire-and-exploit strategy with intent to generate investor returns through distributions and long-term gains. That was the polar opposite of the find-and-flip model other private equity pursued during the nadir of shale, and which is essentially defunct today.

Oil and Gas Investor visited with Lime Rock Resources co-CEOs and managing directors Eric Mullins and Charlie Adcock in their Houston office in December.

Already have an account? Log In

Thanks for reading Hart Energy.

Subscribe now to get unmatched coverage of the oil and gas industry’s entire landscape.

Get Access