Venari Resources LLC
TypeLLC
IndustryOil and gas
FoundedMay 2012
Defunct2020
HeadquartersDallas & Houston, Texas, U.S.
Key people
Brian Reinsborough
(CEO & President)
Rich Smith
(Executive Vice President, Exploration)
Bruce Busmire
(Executive Vice President & CFO)
Number of employees
34 (June 2013)
WebsiteVenariResources.com

Venari Resources LLC was a privately held offshore exploration and production company founded in 2012 by Brian Reinsborough. It was focused on the oil-prone subsalt region in the Gulf of Mexico’s deep waters. In May 2012, global private equity investment firms Warburg Pincus,[1] Kelso & Company, Temasek Holdings and The Jordan Company provided an initial $1.125 billion capital commitment to pursue its exploration program and development projects in the Gulf of Mexico. [2]

In December 2019, Talos executed a purchase and sale agreement and closed on the acquisition of all primary term acreage and prospects from Venari Resources.[3] The company website indicated that the company would cease operations in early 2020.

Assets

Venari built a large inventory of drillable prospects and leases in the Gulf of Mexico, including the Coronado discovery and the Shenandoah discovery in the Walker Ridge area. [4] [5] [6] [7][8][9][10][11]

Office Locations

The company was headquartered in Dallas and had an additional office location in the Houston Energy Corridor. On June 3, 2013, Venari had 34 employees.

References

  1. ↑ "Venari Resources". Warburg Pincus. 2012. Archived from the original on 13 November 2012.
  2. ↑ "Exploration startup Venari Resources draws $1B funding - The Deal Pipeline(SAMPLE CONTENT: NEED AN ID?)". www.thedeal.com. Archived from the original on 2012-05-29.
  3. ↑ "Talos Energy to spend $640 million acquiring Gulf of Mexico acreage and prospects". www.worldoil.com. 16 December 2019. Retrieved 2020-04-07.
  4. ↑ LLC, Venari Resources. "Venari Resources Expands Gulf of Mexico Portfolio with Successful Lease Sale Bids". www.prnewswire.com (Press release).
  5. ↑ LLC, Venari Resources. "Venari Resources Announces Second Major Oil Discovery in the Deepwater Gulf of Mexico". www.prnewswire.com (Press release).
  6. ↑ LLC, Venari Resources. "Venari Resources Announces Major Oil Discovery in the Deepwater Gulf of Mexico". www.prnewswire.com (Press release).
  7. ↑ Helman, Christopher. "Tiny Dallas-Based Oil Company Scores Two Giant Deepwater Discoveries In One Week". Forbes.
  8. ↑ "Huge Gulf oil discovery a big deal for Dallas' Venari Resources - Dallas Business Journal". Archived from the original on 2013-03-24.
  9. ↑ Sakelaris, Nicholas (April 5, 2013). "At Venari Resources, the good news keeps on coming". Dallas Business Journal.
  10. ↑ "12 DFW energy companies get total of $3.5B in funding - Dallas Business Journal". Archived from the original on 2013-04-20.
  11. ↑ "Latest Oil, Energy & Metals News, Market Data and Analysis - S&P Global Platts - S&P Global Platts". www.spglobal.com.
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