Not Logged In Log In   Sign Up   Points Leaders
Follow Us    5:24 AM

GasBuddy News Article

36
votes
Huge Gulf oil discovery a big deal for Dallas' Venari Resources

Dallas Business Journal -- Dallas-based Venari Resources LLC announced a major oil discovery this week in the Gulf of Mexico that could be one of the largest ever found, according to Brian Reinsborough, the company’s CEO and President.

Also, today, the 10-month-old company won an auction for 15 additional offshore lease blocks, each consisting of nine square miles. That means more offshore drilling will be coming soon.

The news is "solidifying Venari’s place" as a deepwater driller and as a sustainable oil company. The company has 30 employees but is looking to hire more.

The Shenandoah well goes more than 31,000 feet down, including 5,800 feet of water, to reach 1,000 feet of oil-saturated rock, Reinsborough said.

"To have this type of discovery this early in our business plan is remarkable," he said.



Read the Full Article

Submitted Mar 21, 2013 By: bar1035
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Huge Gulf oil discovery a big deal for Dallas' Venari Resources Back to Topics
REPLIES (newest first) Post a Reply
Profile Pic
snerd
All-Star Author Pennsylvania

Posts:935
Points:666,700
Joined:May 2005
Message Posted: Mar 22, 2013 11:58:26 PM

Ok
Profile Pic
clermont40miles
Champion Author Cincinnati

Posts:14,464
Points:2,501,310
Joined:Apr 2008
Message Posted: Mar 21, 2013 10:21:35 PM

Small company. I hope they have the resources needed for a very expensive endeavor.

I wish them well and thank them for investing. It will be a while before they are actually producing and getting a return on their investment.
Profile Pic
AKmailman
Champion Author Alaska

Posts:8,729
Points:2,287,720
Joined:Jul 2004
Message Posted: Mar 21, 2013 10:13:32 PM

Another "Deepwater Horizon" disaster in the making
Profile Pic
weenoo215
Champion Author Illinois

Posts:2,262
Points:311,835
Joined:Jan 2013
Message Posted: Mar 21, 2013 10:13:05 PM

Good for them
Profile Pic
snerd
All-Star Author Pennsylvania

Posts:935
Points:666,700
Joined:May 2005
Message Posted: Mar 21, 2013 9:59:15 PM

Ok
Profile Pic
weenerdog
Champion Author Detroit

Posts:10,679
Points:2,522,160
Joined:Jan 2008
Message Posted: Mar 21, 2013 9:57:25 PM

it will be a long time
Profile Pic
nimpy
Champion Author Indianapolis

Posts:10,826
Points:2,365,565
Joined:Oct 2007
Message Posted: Mar 21, 2013 9:55:54 PM

It will not bring the price of gas down, they will export it
Profile Pic
paulweb
Champion Author Ohio

Posts:3,425
Points:996,320
Joined:May 2011
Message Posted: Mar 21, 2013 9:54:50 PM

Don't get too excited...it will be MANY years before this makes any difference at the pumps.
Profile Pic
OGW
Champion Author London

Posts:7,135
Points:2,161,965
Joined:Sep 2005
Message Posted: Mar 21, 2013 9:47:27 PM

Letting any company drill for oil in the sea beds is a big mistake!
Profile Pic
goodbuy
Champion Author Michigan

Posts:10,519
Points:2,109,550
Joined:May 2005
Message Posted: Mar 21, 2013 9:47:15 PM

Good. We will just sell it to other countries anyway.
Profile Pic
Elaine4411
Champion Author Pennsylvania

Posts:4,577
Points:1,191,375
Joined:Dec 2011
Message Posted: Mar 21, 2013 9:46:27 PM

Hopefully, this will be a contributing factor in helping to lower the prices at the pump.
Profile Pic
Buffalo Joe
Champion Author Alberta

Posts:11,336
Points:3,223,250
Joined:Feb 2003
Message Posted: Mar 21, 2013 9:41:57 PM

More $$$.
Profile Pic
MRHONEST
Champion Author Illinois

Posts:2,839
Points:2,308,000
Joined:May 2007
Message Posted: Mar 21, 2013 9:41:48 PM

SWEET
Profile Pic
bevmill
Champion Author Georgia

Posts:5,446
Points:1,319,860
Joined:Apr 2006
Message Posted: Mar 21, 2013 9:28:06 PM

Go for it.
Profile Pic
ClassicWheeler
Champion Author Montgomery

Posts:3,622
Points:1,039,900
Joined:Apr 2012
Message Posted: Mar 21, 2013 9:20:59 PM

Dallas; Oil! What a combination! Now that is what American oil is!
Profile Pic
Gas4Gore
Champion Author Detroit

Posts:3,370
Points:600,885
Joined:Jan 2010
Message Posted: Mar 21, 2013 9:20:53 PM

Go for it, make it happen.
Profile Pic
Beaveronparade
Champion Author Hartford

Posts:3,406
Points:1,314,345
Joined:Mar 2011
Message Posted: Mar 21, 2013 9:20:25 PM

This does sound great for them. The question I have is will it change (as in lower) the price we pay at the pump?
Profile Pic
MJIOWA
Champion Author Iowa

Posts:7,854
Points:1,804,500
Joined:Nov 2009
Message Posted: Mar 21, 2013 9:17:55 PM

drill and pump
Profile Pic
tclbbs
Champion Author Columbus

Posts:2,128
Points:1,768,455
Joined:Jan 2002
Message Posted: Mar 21, 2013 9:17:43 PM

I'll give kudos when the price at the pump is under $2.50 again!!
Profile Pic
ESCORT6768
Champion Author Iowa

Posts:2,080
Points:813,845
Joined:Sep 2005
Message Posted: Mar 21, 2013 9:16:28 PM

Good.
Profile Pic
JeffersonState
Champion Author Oregon

Posts:1,058
Points:723,930
Joined:Dec 2012
Message Posted: Mar 21, 2013 9:15:56 PM

Right, a big deal for the oil barons but probably not a big deal for the people of North America.
Profile Pic
swrestler
Champion Author Grand Rapids

Posts:9,185
Points:2,304,965
Joined:Oct 2008
Message Posted: Mar 21, 2013 9:15:26 PM

Good For Them, But It Will Not Help Gas Prices...
Profile Pic
billwho
Champion Author El Paso

Posts:2,954
Points:895,200
Joined:Jan 2010
Message Posted: Mar 21, 2013 9:12:45 PM

I hope to live long enough to see this one happen.
Profile Pic
alkarn
Champion Author Riverside

Posts:4,062
Points:952,155
Joined:Jul 2012
Message Posted: Mar 21, 2013 9:12:02 PM

Bring it on home, baby.
Profile Pic
grt197
Champion Author Illinois

Posts:2,141
Points:511,130
Joined:Jan 2013
Message Posted: Mar 21, 2013 9:10:02 PM

ok
Profile Pic
ldiggy
Champion Author Wilmington

Posts:3,591
Points:1,013,815
Joined:Apr 2012
Message Posted: Mar 21, 2013 9:09:18 PM

Cool.
Profile Pic
Fedorov91
Champion Author Tampa

Posts:1,602
Points:1,395,275
Joined:Oct 2008
Message Posted: Mar 21, 2013 9:08:29 PM

sweet
Profile Pic
ddor
Champion Author Michigan

Posts:1,415
Points:850,435
Joined:Aug 2012
Message Posted: Mar 21, 2013 9:07:33 PM

Ok
Profile Pic
Tomeboy
Champion Author Twin Cities

Posts:6,868
Points:1,292,990
Joined:Apr 2009
Message Posted: Mar 21, 2013 9:02:34 PM


Liquid Black Gold



[Edited by: Tomeboy at 3/21/2013 9:04:22 PM EST]
Profile Pic
NO_SWEAT
Champion Author Toronto

Posts:7,221
Points:1,769,405
Joined:Jul 2008
Message Posted: Mar 21, 2013 9:02:12 PM

Good.
Profile Pic
texasvet
Champion Author Texas

Posts:5,552
Points:478,080
Joined:Jul 2009
Message Posted: Mar 21, 2013 9:00:03 PM

Proving once again there's no shortage of oil, there's a shortage of brains on the left.
Profile Pic
Tomeboy
Champion Author Twin Cities

Posts:6,868
Points:1,292,990
Joined:Apr 2009
Message Posted: Mar 21, 2013 9:00:00 PM


Offshore drilling in the Gulf of Mexico slowed down after the British Petroleum disaster in April 2010... but is *** more active now *** than it was when the well explosion occurred.
Profile Pic
prassu2012
Champion Author Illinois

Posts:3,439
Points:865,740
Joined:Dec 2012
Message Posted: Mar 21, 2013 8:58:09 PM

ok
Profile Pic
bababooey2
Champion Author Hartford

Posts:9,434
Points:2,036,555
Joined:Sep 2009
Message Posted: Mar 21, 2013 8:55:18 PM

Obama will send it over sea ASAP.
Profile Pic
walkingtall
Champion Author Toronto

Posts:6,933
Points:1,840,965
Joined:Nov 2004
Message Posted: Mar 21, 2013 8:52:22 PM

Huge gulf oil discovery a big deal for Dallas'Venari Resources and gas prices still wouldn't go down.
Profile Pic
Tomeboy
Champion Author Twin Cities

Posts:6,868
Points:1,292,990
Joined:Apr 2009
Message Posted: Mar 21, 2013 8:49:57 PM


Message Posted By WillyG:

Mar 21, 2013 2:39:09 PM

Again, . . . I doubt that'll make a bit of a positive difference for the regular folk at the pump. Rich getting richer.

=====================

Reply: I agree with you WillyG

Venari's money making partners include Anadarko Petroleum Corp., ConocoPhillips, Cobalt International Energy, Marathon Oil Corp. and Chevron Corp.

You know where most of that money making oil will end up going to... China and India. The rest will go to the other countries around the world consuming more and more oil products.

Profile Pic
ProRogue
All-Star Author Vancouver

Posts:512
Points:1,289,570
Joined:Dec 2008
Message Posted: Mar 21, 2013 8:49:57 PM


What WIWalt said.
Profile Pic
WIPACKERFAN
Champion Author Chicago

Posts:11,859
Points:2,574,455
Joined:Aug 2005
Message Posted: Mar 21, 2013 8:44:16 PM

Get it out of the ground.
Profile Pic
WIWalt
Champion Author Wisconsin

Posts:4,689
Points:1,142,665
Joined:Mar 2012
Message Posted: Mar 21, 2013 8:41:51 PM

Gas prices still won't go down.
Profile Pic
bearzz
Champion Author California

Posts:4,442
Points:1,130,940
Joined:Mar 2011
Message Posted: Mar 21, 2013 8:37:50 PM

OK with me . . . drill baby drill!!!!!!!
Profile Pic
DrLyon
Champion Author Michigan

Posts:8,913
Points:1,878,795
Joined:May 2006
Message Posted: Mar 21, 2013 8:36:31 PM

Good...
Profile Pic
knot2swift
Champion Author Calgary

Posts:6,155
Points:1,071,815
Joined:Nov 2009
Message Posted: Mar 21, 2013 8:36:19 PM

I tend to worry about off shore oil. I'd rather drill on land where major screw ups are easy deal with.

Unfortunately, I do not run the world.
Profile Pic
midnightsdc
Champion Author Ontario

Posts:4,209
Points:2,081,315
Joined:Jan 2007
Message Posted: Mar 21, 2013 8:35:50 PM

Good for them...but still will be sold on the open market.
Profile Pic
Gtownhog
Veteran Author Memphis

Posts:255
Points:263,100
Joined:Apr 2012
Message Posted: Mar 21, 2013 8:34:03 PM

If only the politicians would get out of the way..... we could have $2.50 gas....
Profile Pic
WEB0153
Champion Author Maryland

Posts:3,638
Points:877,310
Joined:Dec 2012
Message Posted: Mar 21, 2013 8:33:48 PM

ok
Profile Pic
AnObserver
Champion Author New Jersey

Posts:11,261
Points:2,958,640
Joined:Sep 2005
Message Posted: Mar 21, 2013 8:32:47 PM

Very deep, very far out - I hope they don't use BP as run their drilling
Profile Pic
darkknight1
Champion Author Winston-Salem

Posts:7,360
Points:1,627,110
Joined:Nov 2010
Message Posted: Mar 21, 2013 8:32:22 PM

shouldn't this "good" news bring the price of crude down and gas prices? Oh, I'm sorry, I'm dreaming again!
Profile Pic
truckguy115
Champion Author Orange County

Posts:1,649
Points:225,165
Joined:Apr 2008
Message Posted: Mar 21, 2013 8:31:22 PM

gas prices still won't go down.
Profile Pic
livedream
Champion Author Michigan

Posts:6,931
Points:1,482,545
Joined:Mar 2011
Message Posted: Mar 21, 2013 8:31:16 PM

Good news like this should bring gas prices down -- Just the reverse -- Any time there is bad weather in the Gulf, prices go up in an instant!

Sure would be nice if good news had a beneficial effect for consumers at the gas pumps.
Profile Pic
ExplorerWA
Champion Author Washington

Posts:6,030
Points:1,431,645
Joined:Feb 2011
Message Posted: Mar 21, 2013 8:26:43 PM

More should bring lower pump prices.
Profile Pic
PrettyLittleLady
Champion Author Modesto

Posts:6,139
Points:2,584,905
Joined:May 2006
Message Posted: Mar 21, 2013 8:25:20 PM

Doesn't Dallas have enough oil rigs already??
Post a reply Back to Topics