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Venoco, Inc. reported financial and operational results for the second quarter of 2014. The company reported a net loss of $8.7 million for the quarter on total revenues of $67.0 million.
Adjusted Earnings, which adjusts for unrealized derivative gains and losses and certain other items, were $4.4 million for the quarter, up from $2.7 million in the first quarter of 2014. Adjusted EBITDA was $36.1 million in the second quarter of 2014, compared to $30.4 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.
Recent EventOn August 18, 2014, the Company signed a purchase and sale agreement with an unrelated third party for the sale of its West Montalvo Field for $200…
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