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May 22, 2015 7:01 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Venoco, Inc.

Company Overview

Venoco, Inc., an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of oil and natural gas properties in offshore and onshore California. The company holds interests in South Ellwood Field, Santa Clara Federal Unit, Dos Cuadras Field, Beverly Hills West Field, and onshore Monterey shale formation in southern California. As of December 31, 2014, it had net proved reserves of approximately 40.4 million barrels of oil equivalents. The company was founded in 1992 and is headquartered in Denver, Colorado. Venoco, Inc. is a subsidiary of Denver Parent Corporation.

370 17th Street

Suite 3900

Denver, CO 80202

United States

Founded in 1992

158 Employees

Phone:

303-626-8300

Key Executives for Venoco, Inc.

Chief Executive Officer, President of DPC and Chief Operating Officer of DPC
Age: 58
Co-Founder, Executive Chairman, Member of Compensation Committee and Chief Executive Officer of DPC
Age: 55
Chief Financial Officer
Age: 44
Principal Accounting Officer and Director of Financial Reporting
Age: 38
General Counsel and Secretary
Age: 50
Compensation as of Fiscal Year 2014.

Venoco, Inc. Key Developments

Venoco, Inc. Reports Unaudited Consolidated Earnings and Operating Results for the First Quarter Ended March 31, 2015

Venoco, Inc. reported unaudited consolidated earnings and operating results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenues of $20,418,000 against $62,997,000 a year ago. Loss from operations was $12,681,000 against income from operations of $21,231,000 a year ago. Loss before taxes was $11,794,000 against income before taxes of $9,553,000 a year ago. Net loss was $11,794,000 against net income of $9,553,000 a year ago. Adjusted earnings negative was $10,750,000 against adjusted earnings of $2,729,000 a year ago. Adjusted EBITDA was $13,491,000 against $30,443,000 a year ago. For the quarter, the company reported total production volume of 542 MBOE against 700 MBOE a year ago. Daily average production was 6,016 BOE/d against 7,776 BOE/d a year ago. Daily average production volume of oil was 5,719 Bbls/d against 7,278 Bbls/d a year ago. Daily average natural gas was 1,784 Bbls/d against 2,989 Bbls/d a year ago.

Venoco, Inc. Appoints Scott Pinsonnault as Chief Financial Officer, Effective May 1, 2015

Venoco, Inc. announced that Scott Pinsonnault was named Chief Financial Officer, a position he had held on an interim basis since November, 2014. Prior to joining the company as interim Chief Financial officer, Mr. Pinsonnault was Managing Director with Opportune LLP's Energy Practice. The change is effective May 1, 2015.

Venoco Plans Acquisitions

Venoco, Inc. intends to make acquisitions. Mark DePuy, Venoco's Chief Executive Officer said: “While we're pleased with the recent financing round, we'll continue to seek out further opportunities for capital structure improvements, acquisitions, and growth."

Similar Private Companies By Industry

Company Name Region
WHT Energy Partners, LLC United States
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Crescendo Resources LLC United States

Recent Private Companies Transactions

Type
Date
Target
Private Placement
April 2, 2015
--
Merger/Acquisition
August 19, 2014
Venoco Inc., West Montalvo Properties
 

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