Lime Rock Resources, acquirers and operators of producing oil and gas properties in the United States, today announced that it has successfully closed the acquisition of oil and gas interests in the East Artesia areas of Lea and Eddy Counties, New Mexico for $130 million. The properties were acquired from a publicly traded oil and gas company. The Lime Rock Resources team assumed operations of over 350 producing wells in December 2010 and is beginning the assessment of development drilling and operational improvement projects. The East Artesia acquisition represents the fifth major acquisition by the Lime Rock Resources team in New Mexico since 2006 and fourth since 2008. The team now operates over 1,000 wells and produces over 5,000 barrels per day of oil and gas equivalent in New Mexico alone, making it one of the state's top 20 producers.
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Source: Oil Voice
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