Just saw this online. Does anyone have additional details. PV has been a very good operator!
RADNOR, Pa., July 15, 2015 (GLOBE NEWSWIRE) -- Penn Virginia Corporation (NYSE:PVA) today announced that it has entered into an agreement to sell its East Texas assets to an undisclosed buyer for gross cash proceeds of $75 million. The sale is expected to close by the end of August 2015 and is subject to customary purchase price adjustments and other customary closing conditions. The effective date of the sale is May 1, 2015.
The properties to be sold had net production of approximately 1,870 barrels of oil equivalent (BOE) per day during the second quarter of 2015, consisting of 76% natural gas, 16% natural gas liquids (NGLs) and 8% oil. As a result of the divestiture, reported 2015 production is expected to decrease by an estimated 200,000 BOE. Estimated proved reserves associated with the divested properties at year-end 2014, as determined by third party engineers, were 13.7 million BOE, 85% of which were proved developed. The reserves consisted of 77% natural gas, 16% NGLs and 6% oil.
- See more at: http://globenewswire.com/news-release/2015/07/15/752463/10141870/en...
Tags:
Shale drilling and lithium extraction are seemingly distinct activities, but there is a growing connection between the two as the world moves towards cleaner energy solutions. While shale drilling primarily targets…
ContinuePosted by Keith Mauck (Site Publisher) on November 20, 2024 at 12:40
150 members
400 members
358 members
166 members
9 members
120 members
97 members
34 members
386 members
27 members
© 2025 Created by Keith Mauck (Site Publisher).
Powered by
h2 | h2 | h2 |
---|---|---|
AboutAs exciting as this is, we know that we have a responsibility to do this thing correctly. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. This site was born out of these desires. Before we started this site, googling "shale' brought up little information. Certainly nothing that was useful as we negotiated a lease. Read More |
Links |
Copyright © 2017 GoHaynesvilleShale.com