International commodities trader Vitol Energy plans to acquire US upstream assets through a newly established subsidiary, Vencer Energy.
Though a release announcing the new venture provided few details, Vitol did say that Vencer will seek mature, producing oil and gas assets and focus on "key basins" in the Lower 48 states of the US.
The subsidiary will be led by chief executive Don Dotson, who previously led privately held Sable Bay Energy from September 2017 to August 2019, according to his LinkedIn profile.
Dotson said in the release he hopes to build Vencer into a "large-scale oil and gas enterprise".
Before Sable Bay, Dotson served 14 years as chief operating officer at private exploration and production company Plantation Petroleum. His LinkedIn profile also lists previous employment with Samson Resources and Amoco Production.
Ben Marshall, head of Vitol Americas, said: "Vitol has more than 20 years of experience developing and operating E&P assets globally. Vitol’s strong balance sheet and global operating experience, coupled with Don’s extensive US-focused technical and operating experience is a powerful combination of capabilities for success."