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Venoco, Inc. is an independent energy company primarily focused on the acquisition, exploration and development of oil and natural gas properties. Our principal producing assets are heavily oil-weighted and are located both onshore and offshore in Southern California. These properties are characterized by long reserve lives, predictable production profiles and substantial opportunities for further exploitation and development. For more than 20 years, Venoco has operated in California where there is a rich history of oil and natural gas production from some of the largest oil fields in the country. We have built a reputation as a good corporate citizen with a solid record of meeting California`s high environmental and safety standards. Beyond California, we hold a 22.5% reversionary interest in the Hastings Field onshore along the Gulf Coast of Texas. In addition to enhancing our existing producing properties, Venoco continues to pursue other exploration and development projects, and acquisition opportunities throughout the United States and internationally.
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Philadelphia Energy Solutions (PES) is the longest continuously operating refinery on the East Coast, processing 330,000 barrels of crude oil per day.