Timothy Marquez co-founded Venoco in September 1992 and served as our CEO from our formation until June 2002.
He founded Marquez Energy in 2002 and served as its CEO until we acquired it in March 2005.
returned as our Chairman, CEO and President in June 2004.
He became our Executive Chairman in August 2012.
Mr. Marquez has a B.S. in petroleum engineering from the Colorado School of Mines.
Mr. Marquez began his career with Unocal Corporation, where he worked for 13 years managing assets offshore California and in the North Sea and performing other managerial and engineering functions.
We are controlled by Timothy Marquez
, who is able to determine the outcome of matters submitted to a stockholder vote.
The shares beneficially owned by Mr. Marquez
have been pledged as security for indebtedness incurred by our sole stockholder, and a foreclosure upon those shares would likely result in a change of control.
Timothy Marquez, our Executive Chairman, beneficially owns all of our outstanding common stock through Denver Parent Corporation ("DPC"), an affiliate of Mr. Marquez and our sole stockholder of record.
Through his beneficial ownership, Mr. Marquez is able to control the composition of our board of directors and direct our management and policies.
Accordingly, Mr. Marquez
generally has the direct or indirect power to:
ownership interest could adversely affect investors' perceptions of our corporate governance.
In addition, Mr. Marquez
may have an interest in pursuing acquisitions, divestitures and other transactions that involve risks to us.
For example, Mr. Marquez
could cause us to make acquisitions that increase our indebtedness or to sell revenue generating assets.
may from time to time acquire and hold interests in businesses that compete directly or indirectly with us.
Also, we have engaged, and may continue to engage, in related party transactions involving Mr. Marquez
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For example, in July 2011 we entered into a non-exclusive aircraft sublease agreement with TimBer, LLC
, a company owned by Mr. Marquez