Venoco gets third exclusivity extension to focus on plan confirmation

By Caroline Salls

Pittsburgh, April 27 – Venoco, LLC received a third extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to an order filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the company’s exclusive filing period was extended through July 11 from April 12 and the solicitation period through Sept. 11.

As previously reported, Venoco filed a combined liquidation plan and related disclosure statement on March 22.

The company said it has begun soliciting votes on the plan, and a combined plan confirmation and disclosure statement approval hearing is scheduled for May 23.

“The debtors are filing this motion out of an abundance of caution to ensure that the exclusive periods do not lapse before they complete the work necessary to achieve confirmation and consummation of the combined disclosure statement and plan,” the motion said.

Venoco is a Denver-based energy company. The company filed bankruptcy on April 17, 2017 under Chapter 11 case number 17-10828.

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