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Venoco, Inc. Increases 2009 Production Guidance; Reduces Operating Expense Guidance; Provides Update on Aspen Acquisition.

Publication: PR Newswire
Publication Date: 10-JUN-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
DENVER, June 10 /PRNewswire-FirstCall/ -- Venoco, Inc. today announced that it is revising its annual guidance for 2009 as follows:



Previous New Guidance Guidance Production (BOE per day) 19,000 20,250 Lease Operating Expenses (per BOE) $15.00 $13.50

"The solid production and operating expense results we had in the first quarter are continuing so far this quarter," said Tim Marquez, Chairman and CEO, "so we believe it is an appropriate time to revise our annual guidance."

"We've had very good results from our workover program in the Sacramento Basin and we've also seen oil production continue to rise at our West Montalvo field," Mr. Marquez continued. "Our operating...



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