Venoco okays deal to be bought by Marquez group

Venoco Inc., Denver, has signed a definitive merger agreement under which its chairman and chief executive officer, Timothy M. Marquez, who with affiliated trusts and foundations holds 50.3% of Venoco’s common stock, will acquire Venoco.
Jan. 17, 2012

Venoco Inc., Denver, has signed a definitive merger agreement under which its chairman and chief executive officer, Timothy M. Marquez, who with affiliated trusts and foundations holds 50.3% of Venoco’s common stock, will acquire Venoco.

Venoco shareholders other than the acquirers will receive $12.50/share, implying an enterprise value of $1.5 billion. Venoco’s board and a special committee of the board formed to review the proposal also recommended acceptance.

About the Author

Alan Petzet

Chief Editor Exploration

Alan Petzet is Chief Editor-Exploration of Oil & Gas Journal in Houston. He is editor of the Weekly E&D Newsletter, emailed to OGJ subscribers, and a regular contributor to the OGJ Online subscriber website.

Petzet joined OGJ in 1981 after 13 years in the Tulsa World business-oil department. He was named OGJ Exploration Editor in 1990. A native of Tulsa, he has a BA in journalism from the University of Tulsa.

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