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Venoco Ups California Oil Volumes, Production in Q2
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Venoco Inc. reported financial and operational results for the second quarter 2013.
The company reported net income of $41.2 million for the quarter on total revenues of $82.4 million.
Adjusted Earnings, which adjusts for unrealized derivative gains and losses and certain other items, were $15.1 million for the quarter up from $4.8 million in the first quarter of 2013. Adjusted EBITDA was $48.6 million in the second quarter of 2013, compared to $40.4 million in the first quarter. 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 897 thousand barrels of oil equivalent (MBOE) for the quarter, or 9,852 BOE per day (BOE/d). Daily oil volumes…- ✓ Full news archive — U.S., Canada & international coverage
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