Aug 13 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
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.
Venari, the 12th largest leaseholder in the deepwater Gulf
of Mexico, explores and develops deepwater well sites with
operating partners such as Chevron Corporation,
ConocoPhillips and Anadarko Petroleum Corporation
The company is drilling three new exploration wells; two
alongside partner Chevron and the third with Murphy Oil Corp
, Reinsborough said.
(Reporting by Mike Stone in New York; Editing by Jonathan