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August 25, 2014
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.
News For PVA From The Last 14 Days
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May 15, 2015
07:09 EDTPVAHayman Capital gives quarterly update on stakes
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May 14, 2015
16:13 EDTPVAPenn Virginia files $300M mixed securities shelf
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May 11, 2015
16:26 EDTPVAPenn Virginia sees 2015 product revenue $320M-$3540M vs. previous $312M-$343M
For 2015, production is expected to be 23,800 to 26,200 BOEPD, unchanged from previous guidance.
16:25 EDTPVAPenn Virginia reports Q1 EPS (62c), consensus (42c)
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15:00 EDTPVANotable companies reporting after market close
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