EnVen Energy Corporation Announces Execution of Drillship Agreement with Transocean

HOUSTON–(BUSINESS WIRE)–EnVen Energy Corporation announced today its execution of a drilling contract with a subsidiary of Transocean Inc. for the use of the Transocean Discoverer Inspiration, an ultra-deepwater drillship. EnVen has committed to one firm well with options for two additional wells and expects to take delivery of the drillship early in the third quarter of 2022.

“We are excited to again work with Transocean on the Discoverer Inspiration as we continue our infrastructure-led exploration program, consistent with our proactive and disciplined strategy to develop our deepwater portfolio. We have several robust prospects to drill that provide tremendous growth potential,” said Steve Weyel, EnVen’s Chairman and Chief Executive Officer.

About EnVen

EnVen is an independent oil and natural gas company engaged in the development, exploitation, exploration and acquisition of primarily oil properties in the deepwater region of the U.S. Gulf of Mexico.

Forward-looking Statements

This release contains forward-looking statements. When used in this release, the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on EnVen’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, EnVen disclaims any duty to update any forward-looking statements, all of which are expressly qualified by this statement, to reflect events or circumstances after the date of this release.

Contacts

Investor Contact:
EnVen Energy Corporation

609 Main Street, Suite 3200

Houston, Texas 77002

713-335-7335

Media Relations Contact:
Linda Madden

Pierpont Communications

713-410-2869