New firm targets deepwater subsalt plays

Venari Resources LLC, Dallas, is beginning work as a deepwater Gulf of Mexico exploration company with private financing of as much as $1.125 billion.

The company will focus on subsalt prospects.

Brian Reinsborough, former president and chief executive officer of Nexen Petroleum USA Inc., formed the company while working as executive-in-residence at Warburg Pincus LLC and is chief executive of the start-up firm.

Warburg Pincus, Kelso & Co., Temasek, and The Jordan Co. have agreed to make the investment.

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