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Venture Production Ltd
Type Private
Founded 1997
Headquarters Aberdeen, Scotland, UK
Key people Mark Hanafin, Chairman
Mike Wagstaff, CEO
Industry Energy
Revenue £494.9 million (2008)
Operating income £231.1 million (2008)
Net income £76.7 million (2008)
Parent Centrica
Website www.venture-production.com

Venture Production ltd was a leading British-based oil and gas exploration and production business. Its activities are 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.[1][2]

Contents

History

The Company was formed in 1997 by Bruce Dingwall CBE to exploit oil and gas reserves in the North Sea.[3] 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.[4]

Operations

The Company's strategy is to develop stranded fields i.e. fields that are too small to be economic for large companies, need significant investment or do not fit the strategy of the existing owners. It undertakes activities in both oil fields and gas fields. The company was always going to end up this way and had an extemely productive life because of good staff and Chief Executive Bruce Dingwall and others.

References

External links

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