Denver-based energy firm Venoco Inc. is exploring asset sales that could lead to employee layoffs, chief executive officer Ed O’Donnell said Thursday.
O’Donnell said he could not disclose which assets may be sold or how many employees would be affected.
“We’re in discussions to sell assets,” he said. “If we do, then there could be some job cuts. If we don’t, there won’t be any job cuts.”
He said employees have been notified that jobs cuts could occur.
“We’re trying to let them know that there will be an impact” if the sales occur, O’Donnell said.
Venoco employs about 360 workers, including at the Denver headquarters and in field locations. The company operates oil and natural gas properties primarily in California.
Company founder and executive chairman , taking it private after six years of being publicly traded. The deal was partially financed by a $315 million loan package.
Steve Raabe: 303-954-1948, sraabe@denverpost.com or twitter.com/steveraabedp
