In 2010, real estate and energy investor Raheem J. Brennerman made the decision to take his expertise in the energy sector to the next level beyond financial investment. The result was the introduction of a new company called Blacksands Pacific. To date, the company is privately held with no plans to offer up an IPO.
When the company was first introduced, it intended on focusing on the marketing of crude oil and petroleum products throughout the world. When given the right opportunities, Brennerman made the decision to stretch the company’s reach and delve into both oil and natural gas exploration and production.
After a failed attempt to develop a commercial partnership with Sigmund Oilfields Limited in 2011, a Nigerian indigenous oil & gas exploration and production company, the company immediately shifted its focus to oil and gas interests within the United States.
It’s first successful endeavor was the development a joint venture with the Oil and Gas Technology Fund Inc in late 2011. The company’s objective has been the development Torrance Field acreage located in the Los Angeles Basin, California. They also began to look at possible projects in other parts of California and Nevada. In early 2012, the company began working on a development project within the Williston Basin Prospect, in North Dakota.
In recent years, the company has been able to expand its operations into nine different countries, including significant projects in Nigeria and Côte d’Ivoire, as well as a number of natural gas projects in other parts on the African continent.
As an outspoken businessman, Brennerman has found himself locked in several controversies. He currently oversees a staff of up to 200 employees from the company’s twin headquarters in Los Angeles and Texas. Due to its private nature, all of the company’s financial information has been kept closed and confidential.