Venari Resources raises equity commitments for GoM developments

Offshore staff

DALLAS – Venari Resources LLC has raised an additional $1.3 billion in equity commitments.

Venari’s management and existing private equity and investment firms Warburg Pincus, Kelso & Co., Temasek, and The Jordan Co. were joined by several new investors, including GIC, Singapore’s sovereign wealth fund, and BlackRock Private Equity Partners for the second financing effort.

To date, Venari has raised $2.4 billion of equity commitments from its investors, including the $1.1 billion line of equity announced when the company was formed in May 2012.

Last year, Venari announced two discoveries in the deepwaterGulf of Mexico – Shenandoah and Coronado. The new funding commitments enable Venari to appraise and develop these discoveries.

08/25/2014