Yesterday morning, a gas rig operated in shallow water on the Continental Shelf by Mariner Energy exploded, sending 13 workers into the drink. The company is part-owned by the Texas Pacific Group. Carlyle/Riverstone also owns a piece of Mariner. (Riverstone is a private equity firm that operates primarily in joint venture with Carlyle. Wikipedia:
" ... Here’s what we know about Mariner Energy: In January 2004, the private equity funds Carlyle/Riverstone and Texas Pacific Group purchased Mariner Energy from Enron for $271 million and took the company public in March 2005.
Carlyle/Riverstone then exited as an investor, but Texas Pacific Group, through its ACON Investments subsidiary, still has significant interests, with ACON’s Bernard Aronson and Jonathan Ginns both serving on Mariner’s board.
Mariner’s Enron legacy continues, as the company’s Chairman, CEO and President is Scott D. Josey, who served as VP of Enron North America from 2000-02. At the time, Enron was engaged in one of the biggest corporate rip-offs in history, stealing billions of dollars from West Coast energy consumers. Jesus G. Melendrez is Mariner’s CFO and he served as a VP with Enron North America from 2000-03. Mariner’s General Counsel, Teresa G. Bushman, worked as a lawyer with Enron from 1996-2003.
Public Citizen revealed that Mariner Energy has escaped paying more than $44 million in royalties because it has legally been producing oil and gas from Gulf of Mexico leases royalty-free. On Aug. 11, 2007, the federal government fined Mariner Energy $30,000 after an employee “fell 11 feet.”
Tyson Slocum is the director of Public Citizen’s Energy Program. Cross-posted from Citizen Energy.
The founder of the Texas Pacific Group is David Bonderman, a director of the World Wildlife Fund - a fairly well-known intelligence front. RE BONDERMAN, NAZI CONNECTONS & CIA - From a prior post of mine:
.. Bonderman was co-founder of the Halifax Group, formed in January 1999 with David W. Dupree, a former director at The Carlyle Group, William L. Rogers, founding partner of Colony and the Robert M. Bass Group, also Thomas J. Barrack, chief executive of Colony Capital and a former principal at Robert M. Bass. .... Bonderman went to TPG in 1992 direct from the position of chief operating officer at the Bass Group, Inc., then based in Fort Worth, Texas. ...
Bonderman serves on the board of Gemplus International S.A.6 And this is where the Texas Pacific Group shows its true colors as a Nazi/CIA appendage. ...
In January 26th, 2000, Gemplus announced the signing of a financial agreement with the Texas Pacific Group. The latter agreed to pour $300-$500 million in equity into Gemplus:
The partnership was billed as one of the largest private equity investments in technology history. But there was no call for champagne at the next stockholder's meeting. The Quandts have well-deserved reputation for Nazi collaboration, as Jeffrey Myers, Department of History, Avila University, reports:
"With the rise of Hitler, the Quandts became enmeshed in the Nazi horror. The marriage of Gunther Quandt's ex-wife Magda to Joseph Goebbels initially linked the Quandt family to the Nazis, but Guenther Quandt and his sons all played significant independent roles in the Third Reich. Each eventually became a member of the Nazi party, and, more importantly, the Quandt firms of AFA and DWM (as well as the heavily Quandt-invested Daimler-Benz) utilized slave labor from the concentration camps of Hannover-Stcken, Mauthausen, and Sachsenhausen. In the immediate post-war period, the Quandts were subject to close scrutiny and heavy fines as a result of denazification. The family also faced the loss of factories due to wartime destruction and confiscation of properties in the Soviet zone. The Quandts' version of the Economic Miracle occurred largely thanks to the rearmament of West Germany in the mid-1950s, which made DWM and AFA profitable once again." http://alexconstantine.blogspot.com/2006/11/lexington-comair-crash-part-11-gps.html
With big brothers like this in the BigOil fraternity, there will always be blood at Mariner.