Former Enron CEO Jeffrey Skilling’s stealth energy investment venture has launched, two people familiar with the matter said this week, staffed with former McKinsey & Co. consultants like himself and offering a technology edge to oil and gas returns.
Skilling was convicted of securities fraud and insider trading in connection with manipulating financial reports ahead of the 2001 collapse of Enron. He served more than 12 years in prison and was released in 2019.
His venture, Veld LLC, was set up as a digital marketplace to sell packages of oil and gas production to investors, sources have said. The business has analytical software that investors can use to evaluate packages for their potential returns, the people said.
The company in April filed for a US trademark for its software and business operation under the name Veld Applied Analytics and last year submitted a trademark application for a business named Shalemetrics. The former facilitates “asset backed securitizations for oil and gas producers,” according to a post by Ron Hulme, who joined the firm this year as chairman.
Hulme, who spent more than 26 years at McKinsey and became its global practice leader for oil and gas, is a senior executive at Houston-based energy