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December 18, 2012
07:19 EDTPVAPenn Virginia announces partner elects to go non-consent on last initial wells
Penn Virginia announced that our current 40% working interest partner in our Lavaca County Eagle Ford Shale acreage has elected to go non-consent on the last 17 initial unit wells we have drilled or expect to drill on this acreage. We intend to seek a partner to acquire this 40% working interest, but we have not set a timeframe nor can we give any assurance that our search will be successful. Of these 17 initial unit wells, seven have been drilled, two are being drilled and eight remain to be drilled. Upon the drilling of each of these initial unit wells, our current 40% working interest partner will have no participatory rights in any subsequent wells drilled in such unit. As a result, our net Eagle Ford Shale acreage in Lavaca County will increase from approximately 9,200 acres to approximately 13,400 acres upon the drilling of all of these initial unit wells.
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August 25, 2014
11:44 EDTPVAStocks with call strike movement; PVA HLF
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07:14 EDTPVAPenn Virginia sees Q3 production 1,909 MBOE-2,024 MBOE
Sees Q3 total production 20,750 BOEPD-22,000 BOEPD. Although well results continue to meet or exceed expectations, the company anticipates delays in the timing of completions associated with 2H14 drilling program, including those wells to be drilled with the recently added seventh and eighth drilling rigs. In addition, as a result of the delays, the company now expects four fewer wells will be turned in line in 2014, with those four wells now expected to be turned in line during 1Q15. Pro forma for the sale of the company's Mississippi assets, which closed at the end of July, the company now expects a 1%-7% increase in production in Q3 over Q2 and a 29%-36% increase in production in Q4 over Q3. The company's Eagle Ford production is expected to increase approximately 50%-60% in Q2 over the first half, driven by continued well completions and anticipated strong well results.

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