Former Enron Corp. CEO Jeffrey Skilling has been holding meetings with former Enron executives and others, hoping to win backing for a new energy venture, the Wall Street Journal reported on March 22, citing people familiar with the matter.
Former colleague Lou Pai, who once led Enron's energy services unit, has pledged to invest in the venture and indicated to others he is involved with Skilling, the report said.
People familiar with the matter told the Journal the venture is a digital platform connecting investors to oil and gas projects and is at an early stage.
Skilling resigned as CEO of Enron in August 2001, just months before it filed for bankruptcy amid revelations of widespread accounting fraud and corruption.
He was arrested in 2004 and two years later convicted of 19 counts of conspiracy, securities fraud, insider trading and lying to auditors.
Skilling was released from federal custody last month.
Recommended Reading
Exxon, Chevron Tapping Permian for Output Growth in ‘24
2024-02-02 - Exxon Mobil and Chevron plan to tap West Texas and New Mexico for oil and gas production growth in 2024, the U.S. majors reported in their latest earnings.
Hess Corp. Boosts Bakken Output, Drilling Ahead of Chevron Merger
2024-01-31 - Hess Corp. increased its drilling activity and output from the Bakken play of North Dakota during the fourth quarter, the E&P reported in its latest earnings.
Petrie Partners: A Small Wonder
2024-02-01 - Petrie Partners may not be the biggest or flashiest investment bank on the block, but after over two decades, its executives have been around the block more than most.
CEO: Magnolia Hunting Giddings Bolt-ons that ‘Pack a Punch’ in ‘24
2024-02-16 - Magnolia Oil & Gas plans to boost production volumes in the single digits this year, with the majority of the growth coming from the Giddings Field.
Endeavor Integration Brings Capital Efficiency, Durability to Diamondback
2024-02-22 - The combined Diamondback-Endeavor deal is expected to realize $3 billion in synergies and have 12 years of sub-$40/bbl breakeven inventory.