Venado's founding partners were formerly senior management at Pioneer Natural Resources and San Isidro Development. In December 2010, San Isidro Development successfully completed a divestiture of its Eagle Ford Shale assets to Chesapeake for $200 million. Following this transaction, Venado Oil & Gas, LLC was established on January 1, 2011 and located its headquarters west of Austin, Texas near Lake Travis. Venado has partnered with EnCap Investments, L.P. and Riverstone Holdings LLC and has an initial equity commitment of $275 million.
The Venado team's core strengths include significant relationships, transaction experience, regional expertise and operating capabilities in South and West Texas based on a combined 130+ years of experience with companies such as Pioneer Natural Resources, San Isidro Development, Dan A. Hughes, Texas Oil & Gas, XTO Energy and ExxonMobil. With the team's operational track record and abilities, Venado is well positioned to execute the drilling, completion and production of extended reach horizontal wells through multi-stage fracture stimulation followed by timely hookup of oil and natural gas production to sales.
At Venado, we use a subsurface driven approach to understand and develop oil and natural gas properties that fit within an economic framework. The company focuses this strategy on the Gulf Coast and Permian regions of Texas, leveraging the team's experience and relationships in these geographical areas.