Penn Virginia Secures Commitment for up to $200 Million in New Financing, Closes on a $50 Million Rights Offering
The U.S. Bankruptcy Court for the Eastern District of Virginia on August 11, 2016, confirmed that Penn Virginia Corporation has satisfied the conditions precedent to the effectiveness of its Plan of Reorganization. The company had filed voluntary Chapter 11 in May of this year.

The Eagle Ford-focused independent oil and gas company emerged from bankruptcy with its total long-term debt reduced by approximately $1.1 billion.


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