Five people were injured after a Marcellus Shale gas well owned by Antero Resources exploded in Doddridge County, WV, on Sunday morning.
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Warburg Pincus LLC is leading a group of investors to fund up to $1.125 billion in Venari Resources LLC, a new Gulf of Mexico (GOM) deepwater explorer helmed by former Nexen Inc. executive Brian Reinsborough. The Dallas-based explorer also would be financed by Kelso & Co., The Jordan Co., and Asian investment giant Temasek Holdings. Venari, which is Latin for “hunt,” plans to target subsalt reservoirs, which are pockets of oil and natural gas that had been obscured by salt layers until advances were made in seismic imaging technology. Initial investments of 10-25% are to be made in GOM exploration blocks, with Venari providing technological expertise to majority lease owners.
New Deepwater GOM Explorer Helmed by Former Nexen Exec
Warburg Pincus LLC is leading a group of investors to fund up to $1.125 billion in a new Gulf of Mexico (GOM) deepwater explorer helmed by a former Nexen Inc. executive.