Lime Rock Announces Seven Promotions

WESTPORT, Connecticut, August 30, 2011 -

- Jeffrey Scofield and Gary Sernovitz Named Managing Directors

Lime Rock, a private equity firm focused on the global energy sector, today announces seven promotions, including the naming of longstanding team members Jeffrey Scofield and Gary Sernovitz as Managing Directors.  Mr. Scofield joined the Lime Rock Partners team in 2005 in its Westport office and has been instrumental in many successful exploration & production and energy service investments in the United States and internationally.  He will soon be relocating to London where he will help establish the Lime Rock Partners team’s fifth office location and continue to play a leadership role in the team’s efforts in the international E&P sector.  Mr. Sernovitz joined the Lime Rock team in 2004, also in Westport.  He now oversees the investor relations and fundraising functions for both the Lime Rock Partners and Lime Rock Resources funds.  He also manages Lime Rock’s public relations, marketing, and internal firm strategic development efforts and works with Lime Rock Partners portfolio companies on various branding and marketing initiatives.

John Reynolds, Co-Founder and Managing Director of Lime Rock, said, “The naming of Jeff and Gary to our global leadership group is a testament to their many accomplishments in helping Lime Rock succeed as an investment organization and as a thoughtful partner to our investors.  In their time at the firm, both Jeff and Gary have come to help define what it means to work at Lime Rock through their professional dedication, creative thinking about our business, and senses of humor.”

Lime Rock also announces the promotion of three Lime Rock Partners team members to the role of Vice President: Lynn Calder, based in Aberdeen, Scotland; Greg Highberger, based in Westport; and James Wallis, based in Houston.  In addition, two team members have been promoted to Senior Associate: Blair Barlow, in Westport; and Ben Smith, in Dubai.  Jonathan Farber, Co-Founder and Managing Director of Lime Rock, added, “Lynn, Greg, and James are all playing increasingly central roles in our efforts to find new exciting investments and help our existing portfolio companies grow.  It has been a great pleasure to watch our colleagues seize the opportunity to contribute to our team.”

Established in 1998, Lime Rock manages $3.9 billion of private capital for investment in the energy industry through Lime Rock Partners, investors of growth capital in energy companies worldwide, and Lime Rock Resources, acquirers and operators of oil and gas properties in the United States.  With $3.0 billion under management, Lime Rock Partners is a creative, value-adding, and long-term investor of growth capital in exploration & production, energy service, and oil service technology companies around the world.  From locations in Aberdeen, Scotland; Dubai, UAE: Houston, Texas; and Westport, Connecticut, the Lime Rock Partners team brings together a global network of relationships, deep interdisciplinary expertise in finance and energy company operations, and a strong track record of value creation.  For more information, please visit www.lrpartners.com.

Gary Sernovitz, +1-203-293-2765, gs at lrpartners.com