Lime Rock Partners Announces Leadership Transition, Elevates Jeffrey Scofield to President

Rhea-AI Summary

Lime Rock Partners (CVEO) announced a leadership transition on March 31, 2026, promoting Jeffrey Scofield to President and elevating Dylan Blackford to Managing Director. Co-founders Jonathan Farber and John Reynolds will shift to Senior Advisor and Chairman, respectively, as the firm prepares to launch its next fund.

The co-founders will remain active on the investment committee and on portfolio company boards, and J McLane will continue leading the Investment Committee.

Positive

• Jeffrey Scofield promoted to President (announced March 31, 2026)
• Co-founders remain engaged on Investment Committee and portfolio boards

Negative

• Co-founders stepping back after nearly three decades of day-to-day leadership
• Leadership transition coincides with launch of the firm's next fund

HOUSTON, March 31, 2026 /PRNewswire/ -- Lime Rock Partners, private equity investors in upstream oil and gas companies, today announces the recent promotion of Jeffrey Scofield to President. Mr. Scofield formerly held the position of Chief Operating Officer of the investment team and will assume day-to-day management responsibilities of Lime Rock Partners.

Lime Rock Partners co-founders Jonathan Farber and John Reynolds said, "We are incredibly proud to name Jeff as President of Lime Rock Partners. Jeff has led several of Lime Rock's most important U.S. shale investments, while helping to shape the firm's investment strategy for the past decade. He has played a key role in the personnel management function of the Lime Rock Partners investment team, and the current configuration of the investment team has largely been recruited and mentored by Jeff. As we look at an increasingly compelling opportunity set for our strategy, we believe the firm is in excellent hands with this next generation of leadership."

Since its inception in 1998, Lime Rock Partners has been led by its two co-founders, Jonathan Farber and John Reynolds. Upon the launch of Lime Rock Partners' next fund, and after nearly three decades of leadership, Mr. Farber will become a Senior Advisor, while Mr. Reynolds will assume the role of Chairman. Both Mr. Farber and Mr. Reynolds will remain active participants on the Lime Rock Partners Investment Committee and maintain their respective board seats at Lime Rock Partners' portfolio companies. J McLane, who has led the Investment Committee for most of the past decade, will continue in this leadership capacity.

Mr. Scofield added, "Having worked closely with Jonathan and John for over twenty years, and learning directly from their leadership, I am eager to continue the direction of the firm in the tradition they established—a deep research-oriented approach, a collaborative investment team culture, a focus on building long-term industry relationships, and a strong alignment with our portfolio partners and investors in pursuit of industry-leading returns."

Lime Rock Partners is also pleased to announce the recent promotion of Dylan Blackford to Managing Director. Mr. Blackford has played a critical leadership role in the sourcing, evaluation, and execution of E&P and oilfield service opportunities at Lime Rock Partners for over a decade. Mr. Blackford joins four other Managing Directors to comprise the senior leadership of the Lime Rock Partners investment team. 

About Jeffrey Scofield

Mr. Scofield joined the Lime Rock Partners team in 2005. He became a Managing Director in 2011 and Chief Operating Officer of the Lime Rock Partners investment team in 2015. Currently based in Houston, he has also worked in Lime Rock's Westport and London offices. Mr. Scofield has led opportunities in the E&P, mineral and royalty, and oilfield service sectors in North America and internationally. Prior to joining Lime Rock, Mr. Scofield held positions in the investment banking groups of Harrison Lovegrove & Co., Credit Suisse, and Donaldson, Lufkin & Jenrette. He is a graduate of Vanderbilt University (B.A.).

Mr. Scofield serves on the board of directors of Athena Energy, Axis Energy Services, OiLSERV, Prairie Energy, San Jacinto Minerals II, San Jacinto Minerals III, and San Jacinto Minerals IV. He also serves on the board of directors for Civeo Corporation (NYSE: CVEO) and the Advisory Board of the Children's Museum of Houston.

About Dylan Blackford

Mr. Blackford joined the Lime Rock Partners team in 2015 and is now a Managing Director in the firm's Houston office. Prior to joining Lime Rock, Mr. Blackford was an analyst in the Energy Investment Banking Group of Raymond James where he worked on financial advisory and debt and equity offering transactions. He is a graduate of the A.B. Freeman School of Business at Tulane University (B.S.M.).

Mr. Blackford currently serves on the board of directors of Arena Energy, CrownRock Non-Op, OiLSERV, and Pentacor Energy.

About Lime Rock Partners

Since its inception in 1998, Lime Rock Partners has raised $7.1 billion in private equity funds and affiliated co-investment vehicles for investment in the upstream energy industry. Lime Rock provides growth capital and serves as a strategic partner to leading E&P, mineral and royalty, and oilfield service companies. For more information, please visit: www.lrpartners.com.

View original content:https://www.prnewswire.com/news-releases/lime-rock-partners-announces-leadership-transition-elevates-jeffrey-scofield-to-president-302730125.html

SOURCE LIME ROCK PARTNERS

FAQ

Who is the new President of Lime Rock Partners (CVEO) and when was the promotion announced?

Jeffrey Scofield is the new President; the promotion was announced on March 31, 2026. According to Lime Rock Partners, Scofield previously served as Chief Operating Officer of the investment team and will assume day-to-day management responsibilities.

What roles will Lime Rock Partners co-founders hold after the leadership transition at CVEO?

Jonathan Farber will become a Senior Advisor and John Reynolds will become Chairman upon the next fund launch. According to Lime Rock Partners, both will remain active on the Investment Committee and on portfolio company boards.

What changes to the investment team leadership did Lime Rock Partners (CVEO) announce?

Dylan Blackford was promoted to Managing Director and joins four other managing directors in senior leadership. According to Lime Rock Partners, Blackford has led sourcing and execution of E&P and oilfield service opportunities for over a decade.

Will the outgoing co-founders remain involved in Lime Rock Partners after March 31, 2026?

Yes, both co-founders will remain involved on the Investment Committee and on portfolio company boards. According to Lime Rock Partners, they will retain active participation despite moving into advisory and chairman roles.

How does Lime Rock Partners describe the firm’s leadership continuity following the promotion of Jeffrey Scofield?

The firm emphasizes continuity through an experienced investment team and long-tenured leaders guiding the transition. According to Lime Rock Partners, Scofield helped recruit and mentor the current investment team and will continue their research-oriented approach.