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Venari Resources Llc News

06 Jan 2015

Chevron Makes Oil Discovery in Deepwater US Gulf

Anchor is located approximately 140 miles (225 km) off the coast of Louisiana. (Image: Chevron)

Chevron Corporation announced an oil discovery at the Anchor prospect in the deepwater U.S. Gulf of Mexico. Anchor is Chevron’s second discovery in the deepwater Gulf in less than a year. “The Anchor discovery, along with the previously announced Guadalupe discovery, are significant finds for us in the deepwater Gulf of Mexico. We had one of our best years with the drill bit in 2014, reporting more than 30 discoveries worldwide and adding an estimated one billion barrels of new resources to our holdings,” said Jay Johnson, senior vice president, Upstream, Chevron Corporation.

13 Aug 2014

Private Equity Firms Double down on Venari's Offshore Drilling

Gulf of Mexico deepwater oil explorer Venari Resources LLC said on Wednesday it had raised $1.3 billion from original backers Warburg Pincus LLC, Kelso & Co, the Jordan Company and Temasek Holdings, as well as new investors. GIC, Singapore's sovereign wealth fund, and BlackRock Inc's private equity arm participated in the new round of equity commitments, joining private equity firms Warburg Pincus, Kelso and Jordan, as well as Singapore state-owned investment firm Temasek. The four original investors formed Venari in 2012 with $1.1 billion in equity commitments. The new funds will be used to help develop assets Venari has discovered since 2012, as well as bolster the company's exploration program, Venari Chief Executive Brian Reinsborough said in an interview.