Operational Updates | Capital Markets | Private Equity Activity
Venoco, Inc. Announces 2nd Quarter 2012 Financial and Operational Results
Print
|
Venoco, Inc. today reported financial and operational results for the second quarter of 2012. The company reported net income for the quarter of $14.5 million on total revenues of $82.5 million.
Adjusted Earnings, which adjusts for unrealized derivative gains and losses and certain one-time charges, were $13.3 million for the quarter down from $38.5 million in the first quarter of 2012. Adjusted EBITDA was $55.8 million in the quarter, down from $87.8 million in the first quarter. Adjusted Earnings and Adjusted EBITDA were positively impacted by the monetization of certain 2012-2015 oil and natural gas hedges in the amount of $41.2 million in the first quarter and $11.0 million in the second quarter. Please see the end of this release for definitions of Adjusted Earnings and Adjusted…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations