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Stock Market & Financial Investment News

News Breaks
February 3, 2014
08:08 EDTPVA, AMIDAmerican Midstream closes Eagle Ford natural gas gathering system acquisition
American Midstream Partners (AMID) announced that it completed the acquisition of an approximate 120-mile natural gas gathering and redelivery system located in the oil window of the Eagle Ford shale from a subsidiary of Penn Virginia (PVA). The acquisition was announced on January 22 and includes a long-term, fee-based gathering agreement. The system is currently flowing more than 40 million cubic feet per day between sales volumes and gas lift, with a significant ramp in volumes expected throughout 2014 and thereafter. Penn Virginia expects volumes to triple from current operating levels by mid-2015. The acquisition is expected to be accretive to American Midstreamís expected distribution level for 2014. As a result of the acquisition, management intends to recommend to the board of directors an increase in the Partnershipís quarterly distribution of approximately 2% beginning with the distribution for 3Q14, in addition to managementís intent to recommend to the board an approximate 2% increase for the 1Q14 distribution associated with the recently closed Blackwater acquisition.
News For AMID;PVA From The Last 14 Days
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March 3, 2015
16:22 EDTPVALucas Energy, VIctory Energy enter into collaboration, funding agreements
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February 26, 2015
12:39 EDTPVAOn The Fly: Midday Wrap
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11:07 EDTPVAPenn Virginia says 'not company's policy to comment' on sale rumors
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09:25 EDTPVAOn The Fly: Pre-market Movers
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09:15 EDTPVAPenn Virginia volatility flat into report exploring sale
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09:10 EDTPVAPenn Virginia jumps 15% to $7.15 after WSJ says exploring sale
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09:10 EDTPVAPenn Virginia working with bank to explore sale, WSJ reports
Penn Virginia (PVA) is working with Bank of America (BAC) to find potential buyers of the company, Wall Street Journal reports, citing people familiar with the matter. George Soros has urged the energy product to find a buyer with its stock down 60% since June, the Journal adds. Reference Link
February 25, 2015
16:15 EDTPVAPenn Virginia sees 2015 product revenue $312M-$343M
May not compare to consensus $496.76M. Sees 2015 production 8.7 to 9.6 MMBOE, or 23,800 to 26,200 BOEPD. Production in Q1 is expected to range between 23,500 and 25,500 BOEPD, an increase of 10% to 20% over Q4. Capital expenditures are expected to be $295M-$345M, a decrease of 57% to 63% from 2014.
16:14 EDTPVAPenn Virginia reports Q4 EPS (35c), consensus (10c)
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February 18, 2015
09:10 EDTPVAOn The Fly: Pre-market Movers
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07:42 EDTPVAPenn Virginia sees FY15 production 8.7-9.6 MMBOE
Sees FY15 daily production 23,800-26,300 BOEPD. Sees FY15 CapEx $2.95M-$345M. Sees drilling and completion capital expenditures to range between $6.0M-$7.5M per well for wells with two strings of casing, assuming 15 to 25 frac stages, and between $6.5M-$10.5M per well for 3-string wells, assuming 12 to 33 frac stages.

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