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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.



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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
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snerd
All-Star Author Pennsylvania

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Message Posted: Mar 22, 2013 11:58:26 PM

Ok
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clermont40miles
Champion Author Cincinnati

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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.
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AKmailman
Champion Author Alaska

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Message Posted: Mar 21, 2013 10:13:32 PM

Another "Deepwater Horizon" disaster in the making
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weenoo215
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Message Posted: Mar 21, 2013 10:13:05 PM

Good for them
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snerd
All-Star Author Pennsylvania

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Message Posted: Mar 21, 2013 9:59:15 PM

Ok
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weenerdog
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Message Posted: Mar 21, 2013 9:57:25 PM

it will be a long time
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nimpy
Champion Author Indianapolis

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Message Posted: Mar 21, 2013 9:55:54 PM

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

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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.
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OGW
Champion Author London

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Message Posted: Mar 21, 2013 9:47:27 PM

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

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Message Posted: Mar 21, 2013 9:47:15 PM

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

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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.
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Buffalo Joe
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Message Posted: Mar 21, 2013 9:41:57 PM

More $$$.
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MRHONEST
Champion Author Illinois

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Message Posted: Mar 21, 2013 9:41:48 PM

SWEET
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bevmill
Champion Author Georgia

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Message Posted: Mar 21, 2013 9:28:06 PM

Go for it.
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ClassicWheeler
Champion Author Montgomery

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Message Posted: Mar 21, 2013 9:20:59 PM

Dallas; Oil! What a combination! Now that is what American oil is!
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Gas4Gore
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Message Posted: Mar 21, 2013 9:20:53 PM

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

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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?
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MJIOWA
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Message Posted: Mar 21, 2013 9:17:55 PM

drill and pump
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tclbbs
Champion Author Columbus

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Message Posted: Mar 21, 2013 9:17:43 PM

I'll give kudos when the price at the pump is under $2.50 again!!
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ESCORT6768
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Message Posted: Mar 21, 2013 9:16:28 PM

Good.
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JeffersonState
Champion Author Oregon

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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.
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swrestler
Champion Author Grand Rapids

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Message Posted: Mar 21, 2013 9:15:26 PM

Good For Them, But It Will Not Help Gas Prices...
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billwho
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Message Posted: Mar 21, 2013 9:12:45 PM

I hope to live long enough to see this one happen.
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alkarn
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Message Posted: Mar 21, 2013 9:12:02 PM

Bring it on home, baby.
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grt197
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Message Posted: Mar 21, 2013 9:10:02 PM

ok
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ldiggy
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Message Posted: Mar 21, 2013 9:09:18 PM

Cool.
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Fedorov91
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Message Posted: Mar 21, 2013 9:08:29 PM

sweet
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ddor
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Message Posted: Mar 21, 2013 9:07:33 PM

Ok
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Tomeboy
Champion Author Twin Cities

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Message Posted: Mar 21, 2013 9:02:34 PM


Liquid Black Gold



[Edited by: Tomeboy at 3/21/2013 9:04:22 PM EST]
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NO_SWEAT
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Message Posted: Mar 21, 2013 9:02:12 PM

Good.
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texasvet
Champion Author Texas

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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.
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Tomeboy
Champion Author Twin Cities

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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.
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prassu2012
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Message Posted: Mar 21, 2013 8:58:09 PM

ok
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bababooey2
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Message Posted: Mar 21, 2013 8:55:18 PM

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

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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.
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Tomeboy
Champion Author Twin Cities

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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.

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ProRogue
All-Star Author Vancouver

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Message Posted: Mar 21, 2013 8:49:57 PM


What WIWalt said.
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WIPACKERFAN
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Message Posted: Mar 21, 2013 8:44:16 PM

Get it out of the ground.
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WIWalt
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Message Posted: Mar 21, 2013 8:41:51 PM

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

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Message Posted: Mar 21, 2013 8:37:50 PM

OK with me . . . drill baby drill!!!!!!!
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DrLyon
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Message Posted: Mar 21, 2013 8:36:31 PM

Good...
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knot2swift
Champion Author Calgary

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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.
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midnightsdc
Champion Author Ontario

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Message Posted: Mar 21, 2013 8:35:50 PM

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

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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....
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WEB0153
Champion Author Maryland

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Message Posted: Mar 21, 2013 8:33:48 PM

ok
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AnObserver
Champion Author New Jersey

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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
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darkknight1
Champion Author Winston-Salem

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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!
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truckguy115
Champion Author Orange County

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Message Posted: Mar 21, 2013 8:31:22 PM

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

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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.
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ExplorerWA
Champion Author Washington

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Message Posted: Mar 21, 2013 8:26:43 PM

More should bring lower pump prices.
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PrettyLittleLady
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Message Posted: Mar 21, 2013 8:25:20 PM

Doesn't Dallas have enough oil rigs already??
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