Lime Rock Resources, acquirers and operators of producing oil and gas properties in the US, has closed two acquisitions, totaling $113 million, of working interests in oil and gas properties in Oklahoma and Texas from separate sellers.

The largest acquisition was of the Potato Hills natural gas field in southeast Oklahoma from two private sellers after two sets of exclusive negotiations. The Lime Rock Resources team assumed operatorship of the field in late February.

The Houston-based firm also recently acquired interests in wellbores in the Texas Gulf Coast region adjoining its existing New Years Ridge property. The smaller acquisition was also from a private seller.

Eric Mullins, co-CEO of Lime Rock Resources, noted, "The oil and gas property market appears to have reached some balance, in which sellers and buyers can better reach agreement on a fair price. This is motivating sellers, as in the case of our newest properties, to rationalize their portfolios."

Established in 1998, Lime Rock manages $3.9 billion of private capital for investment in the energy industry through Lime Rock Resources, acquirers and operators of oil and gas properties, and Lime Rock Partners, investors of growth capital in energy companies worldwide. With over $850 million under management and an estimated acquisition capacity of $1.5 billion, Lime Rock Resources acquires, operates, and improves producing oil and gas properties in the United States.