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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.
News For PVA From The Last 14 Days
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October 6, 2015
07:01 EDTPVAPenn Virginia sells non-core South Texas assets for $13M
Penn Virginia announced that it has sold certain non-core South Texas assets to an undisclosed buyer for gross cash proceeds of $13M. The divested properties are located in far southwest Gonzales County, Texas, a significant distance away from our main acreage block, and include three producing wells with September 2015 net production of approximately 250 barrels of oil equivalent per day, approximately 950 net developed acres and estimated mid-year 2015 proved developed reserves, as determined by third party engineers, of approximately 595,000 BOE.

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