Venoco shares slide on Monterey Shale well results

摘要

Houston-Shares of small US independent Venoco fell 13.5% October 11 after the company reported disappointing results from a much-anticipated well in California’s Monterey Shale, cut 2010 production guidance and announced plans to sell up to $75 million of stock. After rising for most of this year, shares of the Denver-based company closed down on the day at $17, compared with a 52-week high of $21.70 achieved in July and a low of $10.36 from December.