Washington – Underwriters for Venoco Inc., a Denver-based energy company, increased the size of its pending initial public offering to $345 million from $230 million, according to an amended filing today with the Securities and Exchange Commission.
Venoco develops oil and natural gas wells, mainly in California.
The company didn’t disclose the number of shares to be offered or an estimated offering price range for the IPO. It originally filed for its IPO on Dec. 20, 2005.
Venoco said it plans to use proceeds from the offering to reduce debt and for general corporate purposes.
The Marquez Trust, a trust controlled by Venoco Chairman and Chief Executive Timothy Marquez and his wife, owns the company.
Marquez made news in May, by pledging an unspecified amount of money to help Denver Public Schools students pay for college. A commission is studying how much the massive scholarship program would cost. Last year, Marquez donated $10 million to the Colorado School of Mines. (See related articles.)
Lehman Brothers Inc., Credit Suisse Securities LLC and Harris Nesbitt Corp. were listed as underwriters for the offering.
Venoco said it will apply to list its common stock on the New York Stock Exchange, but the company didn’t provide a ticker symbol.
