Venari Raises $1.3 Bln for Deepwater Exploration (GoM)

Venari Resources LLC, a deepwater oil exploration and production company in the Gulf of Mexico, has announced that it has raised an additional $1.3 billion of equity commitments.

Venari’s management and existing private equity and investment firms Warburg Pincus, Kelso & Company, Temasek and The Jordan Company, were joined by several new investors, including GIC, Singapore’s sovereign wealth fund, and BlackRock Private Equity Partners for the second financing effort. To date, Venari has raised $2.4 billion of equity commitments from its investors, including the $1.1 billion line of equity announced when the Company was formed in May 2012.

Last year, Venari announced two sizeable discoveries in the deepwater Gulf of Mexico – Shenandoah and Coronado. Following up on these early successes, the Company has established a robust exploration drilling inventory and is now the 12th largest leaseholder in the deepwater Gulf of Mexico with a deep, multi-year drilling program covering 55 prospects across 190 leases. The new funding commitments enable Venari to appraise and develop the Shenandoah and Coronado discoveries and execute on its high-impact exploration inventory. Venari’s strategy of non-operated exploration in the deepwater Gulf of Mexico has enabled it to form partnerships with some of the most successful explorers in this resource-rich region, including Chevron Corporation, ConocoPhillips and Anadarko Petroleum Corporation.

“We are proud of Venari’s accomplishments to date and believe that this new capital commitment positions the Company well for continued growth,” said Brian Reinsborough, President and Chief Executive Officer of Venari Resources. “We welcome the support from our world-class investors and look forward to working closely with them as we execute our business plan and progress toward our goal to build an outstanding E&P company.”

Venari Resources, a privately held offshore exploration and production company founded in 2012 by deepwater E&P expert Brian Reinsborough, is focused on the prolific oil-prone subsalt region in the Gulf of Mexico’s deep waters.

Press Release, August 14, 2014

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6th Offshore Well Intervention Conference Gulf of Mexico

The Offshore Well Intervention Gulf of Mexico conference (OWI GOM) is returning to Houston, Texas for its sixth year on Wednesday 20 – Thursday 21 November.

Featuring Anadarko, BP, Shell, Chevron, BHGE and Oceaneering, the conference aims to help operators transition to the latest compliance updates, WI systems and business models that enhance safety, quicken well access and improve commerciality.

Across two days, more than 200 delegates, 15 exhibitors and 30 speakers will network together and create solutions to some of the most pertinent industry challenges right now, through a conference programme focused on:

  1. Clarifying compliance updates
  2. Quicker well access and safer well control
  3. ​Understanding HPHT well intervention (systems)
  4. Forecasting well intervention activity, discussing new commercial models and comparing platform options
  5. Best practice riserless well intervention
  6. ​The latest well intervention equipment

For registration, speaking or sponsorship enquiries contact Abigail Clifton on aclifton@offsnet.com; +44 (0) 203 793 8800.

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