Deep Gulf Energy ll
Deep Gulf Energy II was established in 2007 with $385 million in equity. The venture initially invested in several natural gas projects prior to the natural gas price crash of 2009. In response to the crash, management began to focus solely in oil-prone areas. In 2010, the pace of investments slowed due to the Macondo incident in the Gulf of Mexico. Post-Macondo, the venture bought the Kodiak field and made three significant discoveries. Deep Gulf Energy II now has 2P reserves of 38 MMBOE. We expect production to rise to over 11,000 BOEPD over the next three years and an exit through a sale within the next 5 years.