Penn Virginia Corporation (NYSE: PVA) announced on July 29, 2011, that it entered into an agreement to divest a substantial portion of its Arkoma Basin assets, as well as certain Mid-Continent assets to Unit Corporation (NYSE: UNT) for $30.5 million in cash. This sale is expected to close by the end of August 2011.

The asset mix being sold is 97% natural gas, and includes coalbed methane (CBM) interests in Hartshorne, Woodford Shale properties, and a number of conventional natural gas plays. PVA reported net production and proved reserves asso...


Legal Notice