Penn Virginia Corporation Engages Jefferies LLC as Exclusive Financial Advisor for Certain Eagle Ford-Related Transactions
RADNOR, Pa., Aug. 4, 2015 (GLOBE NEWSWIRE) -- Penn Virginia Corporation (NYSE:PVA) today announced that it has engaged Jefferies LLC to provide financial advice generally and to act as its exclusive financial advisor in connection with asset-level financing transactions with investors related to the Company's Eagle Ford assets. As part of its general advisory services, Jefferies will also help the Company evaluate strategic alternatives with respect to its Eagle Ford assets and their development and will provide the Company with other financial advice and financial planning assistance.
Penn Virginia Corporation (NYSE:PVA) is an independent oil and gas company engaged in the exploration, development and production of oil, NGLs and natural gas in various domestic onshore regions of the United States, with a primary focus in the Eagle Ford Shale in south Texas. For more information, please visit our website at www.pennvirginia.com.
CONTACT: James W. Dean
Vice President, Corporate Development
Ph: (610) 687-7531 Fax: (610) 687-3688
(August 4, 2015 - 10:24 AM EDT)
Hedging programs that E&Ps have in place in 2016 vary considerably. The chart below shows the range of oil and gas production for several E&Ps covered by hedging contracts. Pioneer Natural Resources (ticker: PXD) and Cimarex Energy (ticker: XEC) have hedged the largest portions of their remaining production at 85/75 and 80/90 percent, respectively, for oil and gas. This chart[Read More…]
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