Venoco Inc., Denver, (NYSE: VQ) plans to acquire assets in California and Texas in two deals from undisclosed sellers for a total of approximately $106 million. The California assets are in the West Montalvo Field in Ventura County near Venoco's existing operations. The Texas assets include several fields on the Gulf Coast including the Manvel Field in Brazoria County. There are approximately 75 wells on the combined properties. Production on the assets is more than 500 barrels of oil equivalent per day. Total proved reserves are 9.7 million barrels equivalent, and proved-plus-unproved reserves are approximately 14.7 million barrels equivalent.
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