Lime Rock Partners successfully divested its stakes in Deer Creek Energy and Venture Production, generating substantial returns and reaffirming its commitment to supporting high-potential energy companies.

Target Company Overview: Deer Creek Energy Limited

Deer Creek Energy Limited is a Calgary-based company engaged in the development of oil sands, boasting interests in both steam-assisted gravity drainage and mining operations in northern Alberta. Lime Rock Partners has been a pivotal stakeholder, owning approximately 28% of the firm before its recent acquisition by Total E&P Canada Ltd., a subsidiary of Total S.A., for C$1.7 billion. Lime Rock's investment history with Deer Creek dates back to 1998, and their active involvement has significantly influenced the company's trajectory.

Target Company Overview: Venture Production plc

Venture Production plc, located in Aberdeen, is a forward-thinking oil and gas producer that emphasizes the potential of stranded reserves in the U.K. North Sea. Initially partnering with Lime Rock in 1999, the company has seen exponential growth, increasing production from 200 barrels of oil equivalent per day to an impressive average of 35,000 barrels per day by the second quarter of 2005. Lime Rock's strategic investments and guidance have been instrumental in Venture Production's success.

Industry Overview in Canada

The oil sands industry in Canada, particularly in Alberta, represents a significant component of the country's energy sector. These formations contain vast amounts of recoverable oil, which can be extracted using