[Context: Venari Resources is a deepwater Gulf of Mexico player backed by $2.4bn by a consortium of PE funds, including Warburg Pincus, Kelso & Company, Temasek, and The Jordan Company.]

Venari Resources Announces Increased Ownership in Deepwater Shenandoah Field and Successful Results from Latest Appraisal Well

– Venari Increases Ownership in Discovery to 17%

– Shenandoah #5 Appraisal Well Encounters Over 1,000 Feet of High-Quality Oil Pay

DALLAS and HOUSTON, July 27, 2016 /PRNewswire/ — Venari Resources LLC (“Venari”), a deepwater oil exploration and production company in the Gulf of Mexico, announced today that it has acquired an additional seven percent working interest in the Shenandoah field on Walker Ridge Blocks 51, 52 and 53. The company also reported successful results from the Shenandoah #5 appraisal well.

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