New firm targets deepwater subsalt plays

May 22, 2012

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.

Bob Tippee

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.

About the Author

Bob Tippee | Editor

Bob Tippee has been chief editor of Oil & Gas Journal since January 1999 and a member of the Journal staff since October 1977. Before joining the magazine, he worked as a reporter at the Tulsa World and served for four years as an officer in the US Air Force. A native of St. Louis, he holds a degree in journalism from the University of Tulsa.