Lime Rock Partners has closed an equity commitment to Athena Energy Partners, a Houston-based upstream oil and gas company targeting acquisitions and development opportunities along the Gulf Coast, with an initial focus on South Texas and the Eagle Ford Shale.
Athena is led by Stephen Goldfarb, the former CFO of Ensign Natural Resources, alongside other former Ensign team members including Garner Haydell, Jennifer Smith, and Matt Geiser. Ensign was an Eagle Ford producer that sold its assets to Marathon Oil in December 2022.
With Lime Rock’s backing, Athena plans to acquire, optimize, and develop oil and gas properties, leaning on in-basin operating experience, technical expertise, and regional relationships to pursue what it views as attractive risk-adjusted opportunities in a mature U.S. shale environment.
Lime Rock said the partnership aligns with its strategy of providing growth capital to upstream energy businesses and supporting management teams executing value-creation plans across E&P and related segments. Founded in 1998, Lime Rock Partners says it has raised $7.1 billion in private equity funds and affiliated co-investment vehicles dedicated to the upstream energy industry.
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“Athena’s experienced team, together with Lime Rock’s strategic perspective, puts us in a strong position to capitalize on the opportunities we see in today’s oil and gas market.”
Stephen Goldfarb, CEO, Athena Energy Partners
“Lime Rock is proud to be partnering with Athena to pursue their strategy and build a business in the Eagle Ford. U.S. shale has matured, but we believe compelling opportunities remain and that the Athena team is uniquely positioned to execute their plan and create value.”
Greg Highberger, Managing Director, Lime Rock Partners
