Penn Virginia Funding 2012 Capex Through Appalachian Assets Sale

摘要

Penn Virginia will sell most of its Appalachian assets, with the exception of its Marcellus holdings, to an undisclosed buyer for $100 million. Penn Virginia said the net proceeds will be used to fund its 2012 capital expenditure plan. The properties include vertical and horizontal coalbed methane and conventional properties, with a net production of 20 million cubic feet of natural gas equivalent per day during June 2012, almost 100% of which was natural gas.