Lime Rock Invests $25m In Romania’s Expert Petroleum

Global private equity firm Lime Rock Partners has reached an agreement with Expert Petroleum, a Romanian oil and gas company which is part of Jordan’s NT&S Energy group, to invest USD 25 million in Expert’s operations.

Expert Petroleum will use the investment capital to fund the appraisal and drilling operations of its current licenses, including eight new licenses recently secured in Romania. Lime Rock and Expert have committed to a continued relationship in seeking out new opportunities for licenses and oil and gas field development.

Expert Petroleum (www.expertpetroleum.com)
Based in Targu Mures, Romania, Expert Petroleum is a gas and oil production company specializing in the rehabilitation and restarting of depleted oil and gas fields. The company’s management team hails from other industry leaders such as ConocoPhillips, Petrom, Romgaz, and Weatherford, utilizing its combined experience to produce sound business models and rehabilitation plans. Expert Petroleum was founded by David Martinon and Michel Louboutin.

Lime Rock Partners (www.lrpartners.com)
Established in 1998, Lime Rock Partners is an energy-focused private investment firm based in the Northeast United States. The firm prefers investments in the global energy sector, especially in companies involved with exploration, production, and new technology development.

Conducting business from offices in Westport, Connecticut; Houston, Texas; Aberdeen, Scotland; and Dubai, UAE; Lime Rock currently manages nearly USD 3.9 billion in assets.