California

Venoco Inc., Denver, plans to drill at least five vertical Monterey shale exploratory wells and shoot 3D seismic over parts of its acreage in California in 2010.

By OGJ editors
HOUSTON, Feb. 26
– Venoco Inc., Denver, plans to drill at least five vertical Monterey shale exploratory wells and shoot 3D seismic over parts of its acreage in California in 2010.

The company spent minimally for onshore Monterey shale work in 2009 and accelerated leasing in the second half of 2009. It expects to aggressively add acreage this year.

The 2010 Monterey onshore budget is $26 million, but the company may hike that later in the year. The first half program is focused on science, but “we expect to begin testing various completion techniques that have been successful in unconventional reservoirs in other parts of the country,” Venoco said.

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