Swiss commodities giant Vitol Inc. is seeking to expand its upstream business in the United States with a venture to be headquartered in Houston and led by industry veteran Don Dotson.
Vencer Energy LLC is focused on acquiring mature producing oil and gas assets, with a specific focus on key basins in the Lower 48.
Vitol has more than 20 years of experience developing and operating exploration and production (E&P) assets globally, with traded volumes in 2019 growing year/year by 10% crude, 20% for gasoil and 13% for gasoline.
“Vitol’s strong balance sheet and global operating experience, coupled with Don’s extensive U.S.-focused technical and operating experience, is a powerful combination of capabilities for success,” said Vitol Americas head Ben Marshall.
Dotson said he was looking forward to leveraging his industry experience, most recently at the helm of Sable Bay Energy, to “build a large-scale oil and gas enterprise.” Dotson also served for 14 years as president and COO at Plantation Petroleum LLC, which since has been sold to various E&Ps.
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