Houston-based Lime Rock Resources said Monday it agreed to buy oil and gas properties primarily in Loving County in Delaware Basin for $508.3 million from a private seller. The transaction is expected to close Sept. 30. The property was producing 15,163 boed as of April 1. Eric Mullins, chairman and CEO, said the deal “fits quite well the Lime Rock Resources acquisition strategy… We look forward to taking over operations in a few months to optimize existing production and pursue other value-creating initiatives.”