Venoco, Inc. has increased its 2008 exploration, exploitation and development capital budget to $300 million from previous guidance of $235 million. In addition, Venoco announced that production for 2008 is expected
"As a result of our solid production growth and strong commodity prices, we have identified a variety of development projects that we want to continue or expand as we head into 2009," commented Tim Marquez, Venoco's Chairman and CEO. "The increased budget includes an expanded drilling program and additional fracs in the Sacramento Basin, acquisition of additional acreage in key exploration plays, initial expenditures for
"I am very pleased with our results thus far in 2008," Marquez continued. "Venoco has increased production during the year while laying the foundation for future growth."
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