Townes Pressler Joins Lime Rock Partners as Managing Director


HOUSTON, March 6, 2007 — Lime Rock, a private equity firm focused on the energy industry, today announces that Townes Pressler has joined the Lime Rock Partners investment team as a Managing Director in the firm’s Houston office. Most recently the co-founder of independent oil and gas producer Peregrine Oil & Gas, Mr. Pressler brings to Lime Rock an exceptional track record as an entrepreneur and a strategic adviser to leading upstream energy companies while at Donaldson, Lufkin & Jenrette, Credit Suisse, and Harrison Lovegrove & Co.

Jonathan Farber, Managing Director of Lime Rock, said, “Lime Rock Partners commits to provide three things to our portfolio companies: operating experience, financial expertise, and a global network of relationships. Townes is an ideal new leader at Lime Rock to help us continue to fulfill our promise as an investment partner. He has deep roots in Houston and throughout the energy sector. As a senior banker, he has helped leading E&P companies develop their long-term strategy and execute complex transactions. And, as an entrepreneur, he knows from the inside the challenges facing growing energy companies.”

Mr. Pressler added, “I have known members of the Lime Rock team for years, and I am looking forward to bringing my diverse experience to the firm. I am also grateful to all my former colleagues, especially my friends at Peregrine, for their role in developing that experience. Most of my career has been focused on helping upstream energy companies grow, and I am excited to be able to continue doing that, both in North America and throughout the world, at one of the leading energy-focused private equity firms.”

After ten years as an energy banker, Mr. Pressler joined Donaldson, Lufkin & Jenrette in 1996. Over the next six years, including after the acquisition of DLJ by Credit Suisse, Mr. Pressler played a leading role advising E&P companies and executing diverse transactions in the energy sector. He eventually became COO of Credit Suisse’s Houston office and a Managing Director of its global energy group. Mr. Pressler took that senior advisory experience to Harrison Lovegrove where, as a Managing Director, he established the boutique international firm’s U.S. presence. In 2004, he co-founded Peregrine Oil & Gas, which focuses on opportunities in the Gulf of Mexico, with Danny Crawford and Lawson Fancher. With private equity backing, Peregrine has completed a successful drilling program and now generates significant cash flow.

Established in 1998, Lime Rock manages $2.1 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 $1.6 billion under management, Lime Rock Partners is a creative, value-adding, and long-term investor of growth capital in companies in the global exploration and production, energy service, and oil service technology sectors. From locations in Aberdeen, Scotland; Calgary, Alberta; 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.


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