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
         E-Mail: invest@pennvirginia.com