Venture Production
Encyclopedia
Venture Production ltd was a leading British
-based oil and gas exploration and production business. Its activities were focused on the North Sea
. It formerly was a constituent of the FTSE 250 Index
, but was delisted following Centrica
's purchase of the company in August 2009.
& Dave Neely to exploit oil
and gas
reserves in the North Sea
. It was first listed on the London Stock Exchange
in 2002 and delisted in 2009. In 2008 it acquired six proven but undeveloped gas assets from Tullow Oil
.
fields and gas
fields.
It has now been bought by Centrica. Bruce Dingwall was an employee of the company, he turned it into a billion dollar company and is one of the most successful men in Britain.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
-based oil and gas exploration and production business. Its activities were focused on the North Sea
North Sea
In the southwest, beyond the Straits of Dover, the North Sea becomes the English Channel connecting to the Atlantic Ocean. In the east, it connects to the Baltic Sea via the Skagerrak and Kattegat, narrow straits that separate Denmark from Norway and Sweden respectively...
. It formerly was a constituent of the FTSE 250 Index
FTSE 250 Index
The FTSE 250 Index is a capitalisation-weighted index consisting of the 101st to the 350th largest companies on the London Stock Exchange. Promotions to and demotions from the index take place quarterly in March, June, September and December...
, but was delisted following Centrica
Centrica
Centrica plc is a multinational utility company, based in the United Kingdom but also with interests in North America. Centrica is the largest supplier of gas to domestic customers in the UK, and one of the largest suppliers of electricity, operating under the trading names "Scottish Gas" in...
's purchase of the company in August 2009.
History
The Company was formed in 1997 by Larry Kinch, Bruce Dingwall CBEOrder of the British Empire
The Most Excellent Order of the British Empire is an order of chivalry established on 4 June 1917 by George V of the United Kingdom. The Order comprises five classes in civil and military divisions...
& Dave Neely to exploit oil
Oil
An oil is any substance that is liquid at ambient temperatures and does not mix with water but may mix with other oils and organic solvents. This general definition includes vegetable oils, volatile essential oils, petrochemical oils, and synthetic oils....
and gas
Gas
Gas is one of the three classical states of matter . Near absolute zero, a substance exists as a solid. As heat is added to this substance it melts into a liquid at its melting point , boils into a gas at its boiling point, and if heated high enough would enter a plasma state in which the electrons...
reserves in the North Sea
North Sea
In the southwest, beyond the Straits of Dover, the North Sea becomes the English Channel connecting to the Atlantic Ocean. In the east, it connects to the Baltic Sea via the Skagerrak and Kattegat, narrow straits that separate Denmark from Norway and Sweden respectively...
. It was first listed on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
in 2002 and delisted in 2009. In 2008 it acquired six proven but undeveloped gas assets from Tullow Oil
Tullow Oil
Tullow Oil plc is a global oil and gas exploration company headquartered in London, United Kingdom. It has interests in over 85 licences across 23 countries and in 2010 produced 58,100 barrels of oil equivalent per day...
.
Operations
The Company's strategy was to develop stranded fields i.e. fields that were too small to be economic for large companies, needed significant investment or did not fit the strategy of the existing owners. It undertook activities in both oilOil
An oil is any substance that is liquid at ambient temperatures and does not mix with water but may mix with other oils and organic solvents. This general definition includes vegetable oils, volatile essential oils, petrochemical oils, and synthetic oils....
fields and gas
Gas
Gas is one of the three classical states of matter . Near absolute zero, a substance exists as a solid. As heat is added to this substance it melts into a liquid at its melting point , boils into a gas at its boiling point, and if heated high enough would enter a plasma state in which the electrons...
fields.
It has now been bought by Centrica. Bruce Dingwall was an employee of the company, he turned it into a billion dollar company and is one of the most successful men in Britain.