August 22, 2014 2:57 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Venari Resources LLC

Company Overview

Venari Resources LLC offers oil and gas and deepwater exploration and production services. The company provides well drilling, rig maintenance, and marine exploration services. Additionally, it offers equipment and block leasing services. Venari Resources LLC was founded in 2012 and is based in Addison, Texas with an additional office in Houston, Texas.

15303 North Dallas Parkway

Suite 1350

Addison, TX 75001

United States

Founded in 2012

Phone:

972-850-5300

Fax:

972-850-5301

Key Executives for Venari Resources LLC

Chairman
Age: 52
Chief Financial Officer and Executive Vice President
Age: 56
Senior Vice President
Executive Vice President of Exploration
Age: 55
Senior Vice President of Engineering and Planning
Compensation as of Fiscal Year 2014.

Venari Resources LLC Key Developments

Venari Resources LLC, ConocoPhillips, Chevron Corporation and Anadarko Petroleum Corporation Announce Oil Discovery in the Deepwater Gulf of Mexico

Venari Resources LLC announced a major discovery at its Coronado prospect. The Coronado discovery, which spud on June 1, 2012, encountered more than 400 feet of net oil pay. The Coronado well, which was drilled to a total depth of 31,866 feet in 6,127 feet of water, is approximately six miles from Venari's Shenandoah discovery, which was previously announced on March 19, 2013. Venari holds a 10% working interest in Coronado. Venari and its co-owners, including Chevron Corporation, as operator, ConocoPhillips (35%) and Anadarko Petroleum Corporation (15%) are evaluating the well results to determine the full extent of the recoverable resource.

Venari Resources LLC Announces Major Oil Discovery At Its Shenandoah Prospect in Walker Ridge Block 51 and Provides an Update on Its Coronado Prospect in Walker Ridge Block 98

Venari Resources LLC announced a major oil discovery at its Shenandoah prospect in Walker Ridge Block 51 and provided an update on its Coronado prospect in Walker Ridge Block 98. The Shenandoah-2 well, which spud on September 16, 2012 and drilled in approximately 5,800 feet of water to a total depth of 31,405 feet, encountered net oil pay in excess of 1,000 feet. The well is approximately 1,700 feet structurally down-dip from the Shenandoah-1 discovery, which was drilled in Walker Ridge Block 52 in 2009 and encountered net pay approaching 300 feet. Venari holds a 10% working interest in Shenandoah. Venari and its co-owners Anadarko Petroleum Corporation, as operator (30%), ConocoPhillips (30%), Cobalt International Energy (20%) and Marathon Oil Corporation (10%) are evaluating the Shenandoah well results and assessing the next steps toward future appraisal activity. The Coronado prospect, which spud on June 1, 2012, met all pre-drill expectations on net feet of pay and resource estimation. The well is located approximately six miles from the Shenandoah discovery in 6,127 feet of water and was drilled to a total depth of 31,866 feet. Venari holds a 10% working interest in Coronado. Venari and its co-owners, including Chevron Corporation, as operator (40%), ConocoPhillips (35%) and Anadarko Petroleum Corporation (15%) are evaluating the well results to determine the full extent of the recoverable resource. The formation of Venari was announced on May 22, 2012 with an investment of up to $1.125 billion from investment firms, Warburg Pincus, Kelso & Company, Temasek and The Jordan Company.

Venari Resources LLC Appoints Bruce W. Busmire as Executive Vice President and Chief Financial Officer

Venari Resources LLC announced the appointment of Bruce W. Busmire as Executive Vice President and Chief Financial Officer. Mr. Busmire recently joined Venari from Anadarko Petroleum Corporation, where he initially started in 2006 as their Vice President and Chief Accounting Officer. In 2008, he was appointed Vice President of Finance, Treasurer and led the company in some very significant financing activities during the difficult environment of the deepwater drilling moratorium. Mr. Busmire also served as Vice President of Investor Relations for Ocean Energy. In the first 20 years of his career, he held various positions of increased responsibility in accounting and senior management at Amoco Corporation.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
June 30, 2014
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