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Venoco Sustains Production Growth at South Ellwood Field
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Venoco, Inc. today reported financial and operational results for the first quarter 2013. The company reported a net loss of $4.2 million for the quarter on total revenues of $87.3 million.
Adjusted Earnings, which adjusts for unrealized derivative gains and losses and certain other items, were $4.8 million for the quarter. Adjusted EBITDA was $40.4 million in the first quarter of 2013, compared to $40.7 million in the fourth quarter of 2012. Please see the end of this release for definitions of Adjusted Earnings and Adjusted EBITDA and a reconciliation of those measures to net income/loss.
Highlights include the following: Production of 957 thousand barrels of oil equivalent (MBOE) for the quarter, or 10,628 BOE per day (BOE/d); excluding volumes contributed by Sacramento Basin…- ✓ Full news archive — U.S., Canada & international coverage
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