American Oil and Gas Reporter - February 2015 - 99

SpecialReport: Gulf of Mexico Update
occurred in 2014, when we raised an
"We also have two very attracadditional $1.3 billion," he notes.
tive exploration wells that are be"We have two very attractive exploration
The second financial placement
ing drilled in 2015: a prospect
closed last August, and included Warcalled Sweetwater and one called
wells that are being drilled in 2015. The
burg Pincus, Kelso & Company,
Solomon," he said in mid-JanuSweetwater and Solomon prospects are
Temasek and The Jordan Company, as
ary. "We already are drilling
well as several new investors, such as
Sweetwater, which is operated by
near prior discoveries, have appealing
GIC, Singapore's sovereign wealth
Chevron, and we plan to spud
fund, and BlackRock Private Equity
Solomon in the second quarter
geologic features, and are operated by
Partners. "We now have $2.4 billion
with Marathon as operator. Both
excellent companies, so they have
behind us, which I believe is the
prospects are four-way dip clolargest in the industry. That is a testasures, which are great structures
everything we like to invest in."
ment to Venari's strategy, its people,
to drill. Both of them are near priand its execution," Reinsborough
or discoveries, have appealing gesays.
ologic features, and are operated
According to Reinsborough, the company has secured such
by excellent companies, so they have everything we like to inlarge commitments to make sure it will have complete financial
vest in."
flexibility going forward. "We are well-positioned to fund our
Although excited about these prospects, Reinsborough indigrowth program almost to the end of the decade," he assures.
cates that Venari will keep its eyes open for other opportunities.
Venari and its partners have a busy year ahead, Reinsborough
"We continue to look for ways to grow the company, whether
continues. "We will be drilling appraisal wells for Shenandoah,
through farming into prospects or buying assets at lease sales,"
Anchor and Guadalupe this year," he details. "We are happy these
he says. "We believe we have the technical skills to continue to
discoveries are progressing quickly, and the next appraisal
identify huge discoveries, the integrity and flexibility to be a great
wells will help us define the sizes and scopes of the productive
partner, and the financial backing to participate in world-class projreservoirs.
ects."
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FEBRUARY 2015 99

American Oil and Gas Reporter - February 2015

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