|By PR Newswire||
|August 13, 2014 10:00 AM EDT||
DALLAS and HOUSTON, Aug. 13, 2014 /PRNewswire/ -- Venari Resources LLC, (the "Company") a deepwater oil exploration and production company in the Gulf of Mexico, today 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."
About Venari Resources
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. Since formation, Venari has built a large inventory of drillable prospects and leases in the Gulf of Mexico, including the Coronado discovery and potentially giant Shenandoah discovery in the Walker Ridge area. The Company is headquartered in Dallas and has an additional office location in Houston. For more information, visit www.venari.com.
Venari Resources LLC
SOURCE Venari Resources LLC
Dec. 3, 2016 09:30 PM EST Reads: 1,758
Dec. 3, 2016 09:30 PM EST Reads: 1,595
Dec. 3, 2016 08:00 PM EST Reads: 1,742
Dec. 3, 2016 08:00 PM EST Reads: 3,950
Dec. 3, 2016 06:15 PM EST Reads: 1,508
Dec. 3, 2016 05:30 PM EST Reads: 4,040
Dec. 3, 2016 05:15 PM EST Reads: 2,136
Dec. 3, 2016 05:15 PM EST Reads: 1,998
Dec. 3, 2016 04:30 PM EST Reads: 1,471
Dec. 3, 2016 04:00 PM EST Reads: 4,859
Dec. 3, 2016 03:30 PM EST Reads: 1,590
Dec. 3, 2016 03:15 PM EST Reads: 3,222
Dec. 3, 2016 03:00 PM EST Reads: 475
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, sha...
Dec. 3, 2016 02:45 PM EST Reads: 786
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
Dec. 3, 2016 02:45 PM EST Reads: 700