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Penn Virginia Corp (PVAC.OQ)

PVAC.OQ on NASDAQ Stock Exchange Global Select Market

85.35USD
20 Jul 2018
Change (% chg)

$-1.14 (-1.32%)
Prev Close
$86.49
Open
$86.64
Day's High
$86.69
Day's Low
$84.02
Volume
36,346
Avg. Vol
113,842
52-wk High
$96.00
52-wk Low
$33.04

Latest Key Developments (Source: Significant Developments)

Penn Virginia Q4 Loss Per Share $0.72
Thursday, 1 Mar 2018 05:49pm EST 

March 1 (Reuters) - Penn Virginia Corp ::PENN VIRGINIA REPORTS FOURTH QUARTER AND YEAR-END 2017 RESULTS, PROVIDES OPERATIONAL UPDATE AND CLOSES PREVIOUSLY ANNOUNCED ACQUISITION.Q4 ADJUSTED EARNINGS PER SHARE $1.06.Q4 LOSS PER SHARE $0.72.EXPECTS 2018 PRODUCTION GROWTH OF ABOUT 125%.‍TOTAL PRODUCTION IN Q4 OF 2017 INCREASED APPROXIMATELY 32% FROM Q4 OF 2016, TO 1,135 THOUSAND BARRELS OF OIL EQUIVALENT​.PENN VIRGINIA'S TOTAL PROVED RESERVES AS OF DECEMBER 31, 2017 INCREASED APPROXIMATELY 47% TO 72.6 MMBOE.‍CAPITAL EXPENDITURES FOR 2018 ARE EXPECTED TO TOTAL BETWEEN $320 AND $360 MILLION​.‍IN 2018, COMPANY EXPECTS TO DRILL 22 XRL WELLS​.SEES Q1 2018 PRODUCTION 15,500 BOEPD TO 16,500 BOEPD.SEES 22,000 BOEPD TO 25,000 BOEPD PRODUCTION FOR FY 2018​.QTRLY TOTAL REVENUES $54.3 MILLION VERSUS $32.7 MILLION.  Full Article

KLS Diversified Asset Management Reports 7.8 Pct Stake In Penn Virginia
Monday, 29 Jan 2018 06:03pm EST 

Jan 29 (Reuters) - Penn Virginia Corp ::KLS DIVERSIFIED ASSET MANAGEMENT LP REPORTS 7.8 PERCENT STAKE IN PENN VIRGINIA CORP AS OF JANUARY 18, 2018 - SEC FILING‍​.  Full Article

Penn Virginia to Acquire Assets in Eagle Ford Shale
Tuesday, 2 Jan 2018 08:00am EST 

Jan 2 (Reuters) - Penn Virginia Corp ::PENN VIRGINIA ANNOUNCES ACCRETIVE ACQUISITION IN CORE AREA AND PROVIDES OPERATIONAL UPDATE ON SIGNIFICANT WELL RESULTS.PENN VIRGINIA CORP - ACQUISITION IS EXPECTED TO BE FUNDED WITH BORROWINGS UNDER COMPANY'S CREDIT FACILITY.PENN VIRGINIA CORP - AGREED TO ACQUIRE ASSETS IN EAGLE FORD SHALE, PRIMARILY IN GONZALES AND LAVACA COUNTIES, FROM HUNT OIL COMPANY FOR $86 MILLION IN CASH​.PENN VIRGINIA CORP - DEAL TO BE ACCRETIVE TO CO UNDER ALL MEASURES, INCLUDING EARNINGS, CASH FLOW AND NET ASSET VALUE PER SHARE.PENN VIRGINIA CORP - ‍COMPANY'S CAPITAL EXPENDITURES FOR 2018 ARE PROJECTED TO BE HIGHER DUE TO ANTICIPATED DRILLING ON ACQUIRED HUNT ACREAGE​.PENN VIRGINIA CORP - ANTICIPATE FULL YEAR 2018 PRODUCTION TO GROW APPROXIMATELY 120% FROM 2017.PENN VIRGINIA CORP - ‍ PRO FORMA GUIDANCE FOR 2018 FULL YEAR CAPITAL EXPENDITURES OF $320 MILLION - $360 MILLION​.PENN VIRGINIA CORP - ‍ EXPECTS TO FINANCE HUNT ACQUISITION WITH BORROWINGS UNDER COMPANY'S CREDIT FACILITY.PENN VIRGINIA - ‍IS IN DISCUSSIONS WITH ITS BANK LENDING GROUP TO AMEND AND INCREASE ITS CREDIT FACILITY BEYOND CURRENT BORROWING BASE OF $237.5 MILLION​.PENN VIRGINIA CORP - ‍COMPANY STILL EXPECTS TO SPEND WITHIN CASH FLOW BY YEAR-END 2018​.  Full Article

Contrarian Capital Management Llc Reports A 7.5 Pct Stake In Penn Virginia
Monday, 18 Dec 2017 05:11pm EST 

Dec 18 (Reuters) - Contrarian Capital Management Llc: :CONTRARIAN CAPITAL MANAGEMENT LLC REPORTS A 7.5 PCT STAKE IN PENN VIRGINIA CORP <<>> AS OF DEC 6 - SEC FILING.CONTRARIAN CAPITAL MANAGEMENT ACQUIRED THE SHARES BECAUSE IT BELIEVED THAT SHARES WERE "UNDERVALUED" & REPRESENTED AN "ATTRACTIVE INVESTMENT OPPORTUNITY".  Full Article

Strategic Value Partners Had Discussions With Chairman Of Penn Virginia’S Board
Monday, 11 Dec 2017 05:47pm EST 

Dec 11 (Reuters) - Penn Virginia Corp ::STRATEGIC VALUE PARTNERS-SAYS HAD DISCUSSIONS WITH CHAIRMAN OF PENN VIRGINIA’S BOARD REGARDING PERFORMANCE, OPERATION OF BUSINESS, ONGOING PROSPECTS.STRATEGIC VALUE PARTNERS SAYS IN THE MEETING WITH CHAIRMAN OF PENN VIRGINIA, HAVE EXPRESSED DISSATISFACTION WITH CO, AND DISCUSSIONS ARE CONTINUING.STRATEGIC VALUE PARTNERS REPORTS 10.2 PERCENT STAKE IN PENN VIRGINIA CORP AS OF DECEMBER 6 - SEC FILING.  Full Article

Mangrove Partners Master Fund-Continues To Have Conversations With Penn Virginia Board
Monday, 11 Dec 2017 05:44pm EST 

Dec 11 (Reuters) - Penn Virginia Corp ::MANGROVE PARTNERS MASTER FUND-CONTINUES TO HAVE CONVERSATIONS WITH PENN VIRGINIA BOARD, PARTICULARLY WITH REGARDS TO STRATEGY AND CORPORATE GOVERNANCE.MANGROVE PARTNERS MASTER FUND-ON DEC 6, MET CHAIRMAN OF PENN VIRGINIA TO DISCUSS ISSUES,FRUSTRATION WITH REGARD TO LACK OF PROGRESS IN ADDRESSING ISSUES.MANGROVE PARTNERS MASTER FUND REPORTS 9.6 PERCENT STAKE IN PENN VIRGINIA CORP AS OF DECEMBER 6 - SEC FILING.  Full Article

Penn Virginia Corporation reports Q3 loss per share $0.40
Wednesday, 8 Nov 2017 04:26pm EST 

Nov 8 (Reuters) - Penn Virginia Corp :Penn Virginia Corporation reports third quarter 2017 results.Q3 adjusted earnings per share $0.57.Q3 loss per share $0.40.Q3 earnings per share view $0.47 -- Thomson Reuters I/B/E/S.Penn Virginia Corp - ‍produced 9,396 barrels of oil equivalent per day in quarter​.Penn Virginia Corp - ‍for october 2017, production averaged approximately 12,200 boepd​.Penn Virginia Corp sees q4 production 13,300-14,000 boepd‍​.Penn Virginia Corp sees 2018 capex ‍$255 million - $295​ million.Penn Virginia Corp - ‍addressing impact from hurricane harvey by adding a third rig to program​.Penn Virginia Corp - ‍depending on commodity prices, anticipate keeping third rig active through end of 2018​.Penn Virginia - ‍expect new 3rd rig will allow co to increase volumes to range of 20,500 to 22,500 boepd for 2018​.  Full Article

Penn Virginia- Entered into master assignment, agreement, amendment no. 3 to credit agreement
Thursday, 5 Oct 2017 04:37pm EDT 

Oct 5 (Reuters) - Penn Virginia Corp :Penn Virginia Corp- on Sept 29, co entered into master assignment, agreement and amendment no. 3 to credit agreement - SEC filing.Penn Virginia Corp- pursuant to amendment, borrowing base under credit agreement increased to $237.5 million.  Full Article

Penn Virginia announces closing of acquisition of Eagle Ford assets
Monday, 2 Oct 2017 08:19am EDT 

Oct 2 (Reuters) - Penn Virginia Corp ::Press release - Penn Virginia announces closing of acquisition of Eagle Ford assets.Penn Virginia Corp - co also announced that borrowing base under revolving credit facility increased from $200 million to about $238 million.Penn Virginia Corp - ‍in connection with acquisition, company entered into a credit agreement for a new $200 million second lien term loan​.Penn Virginia - used net proceeds from term loan, additional borrowings under co's revolving credit facility to finance Devon deal, related expenses​.  Full Article

Penn Virginia to likely re-evaluate drilling plan for remainder of 2017, 2018
Thursday, 1 Jun 2017 07:15am EDT 

June 1 (Reuters) - Penn Virginia Corp ::Penn Virginia - ‍based on 23 days of production, estimates 30-day IP rate will be between 1,800 boepd and 1,900 boepd with continued active choke management​.Says it will likely re-evaluate its drilling plan for remainder of 2017 and 2018.  Full Article

RPT-U.S. energy firms chasing oil price rally stumble on old baggage

NEW YORK, June 14 With oil price recovery taking hold, several U.S. oil and gas companies entered 2018 with a compelling plan - sell undeveloped or less essential fields and invest the money to boost returns from their sweetest, most productive spots.