Capstone Natural Resources II, LLC started November 2, 2014 as a second iteration of Capstone Natural Resources, LLC. Capstone II again partnered with Lime Rock Partners, a global energy-focused private equity firm. Capstone II will again seek to acquire mature oil producing properties in the Permian Basin (primarily on the Central Basin Platform of West Texas and Southeastern New Mexico), and enhance those properties through development drilling, down spacing, and increased operational efficiency.
The senior leadership of Capstone II brings the successful growth strategy model they implemented at both Capstone Natural Resources (sold to an undisclosed buyer for an undisclosed amount in October 2014) and Arena Resources (publicly traded company sold to SandRidge Energy for $1.6 billion in 2010). Capstone is led by Phil Terry, Chairman, Patric McConn, CEO and Mike Willis, President and COO.