Edition:
United States

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.