Penn Virginia Corp. Breakout Notes
John A. Brooks, CEOof Penn Virginia Corporation, (ticker: PVAC) presented today at EnerCom’s The Oil & Gas Conference® 22.
Penn Virginia, an E&P company based out of Houston, TX, sources the majority of its production from its East Texas Eagle Ford assets. The company also has additional producing assets in the Granite Wash area.
During its second quarter, Penn Virginia grew its production by 8% over the Q1 production—reaching 10,159 BOEPD—74% of which was oil. It also reported a net income of $21.3 million during Q2, 2017. It agreed to purchase approximately 19,600 net Eagle Ford acres from Devon for approximately $205 million.
During the company’s breakout session, management was asked the following questions:
- What are some processes you used to move from 3-string wells to 2-string?
- Do you think superior Austin Chalk results in the east can translate over?
- Is there any other midstream assets you acquired from DNV than can be monetized?
- Can you apply the 2-string process into more of your acreage.
- Will you revisit your type curve after the good recent results or will you wait for more wells?
- Do you space PUDs the same everywhere or do you vary them?
- Are there any triggers in place (i.e. commodity price) that would lead you to accelerate development?
- Will you look to market your Mid-Con assets?
- What is the nature of your acquisition financing?
Penn Virginia Corp. presented at EnerCom’s 2017 The Oil & Gas Conference®.
You can listen to the company’s presentation by clicking here.
