HOUSTON, Feb. 29, 2016 (GLOBE NEWSWIRE) -- Talara Oil and Gas LLC announced today the formation of a new venture to acquire oil and gas properties. The Company plans to focus its initial campaign on producing assets in both North and South America.
The newly formed company will be led by Manuel Pablo (Manolo) Zuniga-Pflucker, President and Chief Executive Officer. “We are excited to launch this venture at a time when oil and gas companies are looking for ways to divest properties in an effort to preserve their cash. We will focus initially on Peru, where we believe there are opportunities to build a portfolio of onshore assets that, with proper management and the application of appropriate technologies, are sustainable at today’s commodity prices,” Mr. Zuniga stated. “Additionally, we plan to look at certain assets in other regions of the Americas that provide strategic growth. We have closed our initial round of funding having secured seed capital to allow the management team to focus on multiple opportunities.”
Mr. Zuniga has spent over 30 years in the oil and gas industry, most recently as the chief executive officer for Houston based BPZ Energy, which operated on and offshore properties in Peru where significant oil and gas discoveries were made, and in Ecuador held a non-operated oil producing property. Under Mr. Zuniga’s tutelage, BPZ discovered oil in the Z-1 Block in Peru and brought the oil online through the use of the first FPSO commissioned in Peru. Mr. Zuniga started his career with Occidental Petroleum before starting BPZ Energy. Mr. Zuniga holds a Bachelor of Science in Mechanical Engineering from the University of Maryland, where he currently is a Visiting Committee member, and a Master of Science in Petroleum Engineering from Texas A&M University, where he currently is a member of the University’s International Advisory Board.
Mr. Zuniga is joined on the management team by Greg Smith who will lead the finance, treasury and capital markets initiatives. Mr. Smith most recently spent five years with Houston based Energy XXI, Ltd and also served in key leadership roles at BPZ Energy from 2007 to 2011. He brings over 20 years of experience in the oil and gas sector. Mr. Smith holds a Bachelor of Science in Communications from Missouri State University and a Masters in Business Administration from the May’s Business School at Texas A&M University.
Additionally, Mr. Chuck Fetzner will lead the Company’s asset acquisitions and development. Mr. Fetzner brings over 35 years of managing exploration and development projects in the United States, Peru, Colombia, Argentina, Chile, China and Africa. Mr. Fetzner also held important positions at Sun Exploration and Production, Oryx Energy and Apache Corporation. Mr. Fetzner holds a Bachelor of Science in Geology from the University of New Hampshire.
“I am pleased that Messrs. Smith and Fetzner have joined me in this new venture. Chuck brings valuable experience across both conventional and unconventional assets cross four continents” Mr. Zuniga continued. “He will lead an advisory board that includes Dr. Fernando Zúñiga y Rivero, Mr. James B. Taylor, and Mr. Jose N. Alvarez. Dr. Zúñiga y Rivero brings over 50 years’ experience in oil and gas, starting with Standard Oil Co. in northwest Peru, later heading Petroleos de Peru and discovering large oil and gas fields in Peru’s northern and southern jungle. He later joined The World Bank where he also helped the discovery of oil and gas fields worldwide. Mr. Taylor has over 40 years’ experience with international oil and gas companies where he was involved in major oil and gas discoveries and development with Texaco in Ecuador, with Occidental Petroleum in Peru, Ecuador, Colombia and Venezuela, and with Canadian Occidental in Yemen and the North Sea. He has also served on the Boards of public corporations including Willbros, TMBR-Sharp Drilling and BPZ Resources, where he was Chairman. Mr. Alvarez is a production and reservoir engineering professional with over 36 years of experience in the oil and gas industry. Mr. Alvarez has gained global recognition as the creator of a number of engineering and software solutions aimed at production data management for optimizing oil and gas field production. Currently Mr. Alvarez is Chairman of the OVS Group where he developed its flagship One Virtual Source as the premier platform for customer-focused engineering solutions. Prior to founding OVS Group, Mr. Alvarez was VP of Technology at BPZ Energy, VP of Development with Schlumberger Information Systems, and founder of OGCI Software which was acquired by Schlumberger."
“Greg will lead our efforts to finance our new venture. He brings key contacts and relationships that will allow us to obtain the needed financing to move forward with strategic acquisitions and joint ventures. He will count on the important support of Mr. John (Jay) Lendrum III, Chairman of Nuevo Midstream LLC, who will serve as a founding Company Manager. I am confident Mr. Lendrum’s extensive network and financial acumen will assist us in accessing the capital markets,” Mr. Zuniga stated.
Talara Oil & Gas LLC will be based in Houston, Texas.