Venari Resources LLC is a Dallas, Texas-based startup E&P company focused on the deepwater Gulf of Mexico. In May 2012, Warburg Pincus led a $1.1 billion line-of-equity commitment to Venari Resources. Venari’s strategy centers on the exploration and development of high-potential oil prospects, initially through the acquisition of minority interests in prospects generated by capable operators and later through the generation of its own prospects. The management team is led by Brian Reinsborough, previously President of Nexen USA, where he built the company’s deepwater Gulf of Mexico business. In March 2013, the company announced two major discoveries – Shenandoah and Coronado – in the deepwater Gulf of Mexico. In addition to these discoveries, Venari is the 14th largest leaseholder in the Gulf of Mexico with interests in over 180 exploration leases, many in partnership with successful operators such as ConocoPhillips, Apache and Noble. Additionally, the company has an active drilling inventory and has several upcoming exploration wells.
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