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June 4, 2014
08:03 EDTPVAPenn Virginia shares oversold on Eagle Ford concerns, says Canaccord
Canaccord said shares of Penn Virginia are oversold due to concerns about the company's Eagle Ford estimated utilization rates, or EURs, though the firm said the EURs have not gone down and views estimates from its reserve engineer as conservative. Canaccord also cited Penn Virginia's sizable net acre position and its ability to bring down costs as reasons to buy shares after the correction and keeps a Buy rating and $20 price target on the stock.
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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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