Venoco, Inc. Announces 2010 4th Quarter and Full-Year Financial and Operational Results

Venoco, Inc. (NYSE:VQ) announces its fourth quarter and full-year 2010 financial and operational results.

The press release is quoted as saying:

Production of 6.7 million barrels of oil equivalent (MMBOE) for the year or 18,241 BOE per day (BOE/d). Lifting costs remained flat with 2009 levels, averaging $12.65 per BOE in 2010. Paid down debt $61MM during year while building onshore Monterey shale asset. Proved reserves of 85.1 MMBOE as of December 31, 2010, relatively flat with year-end 2009 proved reserves when adjusted for production and asset sales.

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