Penn Virginia reports proved oil and gas reserves 113.5MMBOE at year-end 2012 Proved oil and natural gas liquids reserves increased 28% to 45.5 MMBOE, or 40% of total proved reserves, from 35.6 MMBOE, or 24% of total proved reserves, at year-end 2011. Eagle Ford Shale proved reserves increased by 161% from 10.0 MMBOE at year-end 2011 to 26.1 MMBOE at year-end 2012. Pro forma natural gas proved reserves decreased by 161 billion cubic feet, or 28%, primarily due to low gas prices.
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