Venoco Goes Fully Private
Venoco founder Timothy Marquez is taking the oil and gas company private after a merger agreement was reached among Venoco, Marquez, and Denver Parent Corporation. Venoco, which operates three offshore platforms in the Santa Barbara Channel and has non-operated interests in three other platforms, is the sole surviving entity of the merger. The Pacific Coast Business Times reported that Marquez lined up a $315 million term loan and $156 million in initial commitments on revolving credit.
