Venoco profit falls on weak natural gas prices
Aug 8 (Reuters) - Oil and natural gas company Venoco Inc's second-quarter profit fell 24 percent on a slump in natural gas prices.
Natural gas prices fell 46 percent in the April-June quarter from a year earlier to average $2.4 per million British thermal units.
Net income at Venoco, which is ramping up oil production, fell to $14.5 million from $19 million a year earlier.
Revenue fell 5 percent to $82.5 million.
Venoco shares, which have fallen 11 percent in the last 12 months, closed at $9.42 on Tuesday on the New York Stock Exchange.
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