March 04, 2015 9:46 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Venoco, Inc.

Company Overview

Venoco, Inc., an independent energy company, is primarily engaged in the acquisition, exploration, exploitation, and development of oil and natural gas properties primarily in offshore and onshore California. The company holds interest in various fields comprising South Ellwood, Santa Clara Federal Unit, West Montalvo, Dos Cuadras, Beverly Hills West, and onshore Monterey shale formation, which consist of the Sevier field in southern California. As of December 31, 2013, the company had net proved reserves of approximately 53.1 million barrels of oil equivalents. Venoco, Inc. was founded in 1992 and is based in Denver, Colorado. As of October 3, 2012, Venoco, Inc. was taken private.

370 17th Street

Suite 3900

Denver, CO 80202

United States

Founded in 1992

219 Employees

Phone:

303-626-8300

Key Executives for Venoco, Inc.

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

Venoco, Inc. Key Developments

Venoco, Inc. Reports Unaudited Consolidated Earnings and Production Results for the Third Quarter and Nine Months Ended September 30, 2014

Venoco, Inc. reported unaudited consolidated earnings and production results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total revenue of $57,851,000 against $80,945,000 a year ago. Income from operations was $23,711,000 against $44,589,000 a year ago. Income before income taxes was $39,525,000 against loss before income taxes of $2,911,000 a year ago. Net income was $39,525,000 against net loss of $2,911,000 a year ago. Adjusted earnings were $6,630,000 against $22,769,000 a year ago. Adjusted EBITDA was $29,943,000 against $51,139,000 a year ago. For nine months, the company reported total revenue of $187,887,000 against $250,567,000 a year ago. Income from operations was $69,320,000 against $124,550,000 a year ago. Income before income taxes was $40,332,000 against $34,087,000 a year ago. Net income was $40,332,000 against $34,087,000 a year ago. Adjusted earnings were $13,789,000 against $42,740,000 a year ago. Adjusted EBITDA was $96,441,000 against $140,123,000 a year ago. For the quarter, the company reported production of 676,000 barrels of oil equivalent (MBOE), or 7,344 BOE/d compared to 7,907 BOE/d in the second quarter of 2014 and 9,036 BOE/d in the third quarter of 2013. For nine months, the company reported 2,095 barrels of oil equivalent (MBOE) compared to 2,684 barrels of oil equivalent (MBOE) for the same period a year ago. The company reported production of 7,674 BOE/d against 9,833 BOE/d a year ago.

Venoco Eyes Acquisitions

Venoco, Inc. is looking for acquisition opportunities. Venoco today reported that it has engaged with Blackstone Advisory Partners, L.P. to provide various advisory and consulting services on November 6, 2014. During the engagement, Jonathan Lurvey of Blackstone will lead a team of energy industry advisory professionals in a number of capacities pertaining to development and implementation of strategic alternatives including facilitation of targeted acquisition and growth opportunities, evaluation and monetization of certain non-core assets, and capital structure considerations.

Venoco, Inc. announced delayed 10-Q filing

On 11/14/2014, Venoco, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

Similar Private Companies By Industry

Company Name Region
Cheniere LNG Holdings, LLC United States
Cumberland Coal Company LLC United States
Mettiki Coal Corporation United States
Nexen Marketing U.S.A. Inc. United States
Petro Source Corporation United States

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
August 19, 2014
Venoco Inc., West Montalvo Properties
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
NYC2012, Inc. United States
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
Rush University United States
Greater Houston Partnership United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Venoco, Inc., please visit www.venocoinc.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.