By Andrea: http://oilshalegas.com
Penn Virginia Corp. (PVA) announced that it will acquire approximately 6,800 acres in Gonzales County, Texas in the Eagle Ford Shale. The land was acquired for $31.1 million, totaling about $4600 per acre.
The acreage is estimated to contain over 40 horizontal well locations, with working interest averaging approximately 73 percent (net revenue interest averaging approximately 55 percent). They will operate and expect reserves from wells on the acreage to be predominantly oil.
A. James Dearlove, President and Chief Executive Officer, stated, "We are pleased to have expanded our portfolio to include a position in one of the most exciting new plays in the industry. This acquisition, in a core area of the Eagle Ford Shale, provides us with a high-quality; oily position which we believe will be an excellent use of the proceeds from recent divestitures of non-core assets."
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Showing posts with label penn virginia. Show all posts
Showing posts with label penn virginia. Show all posts
Saturday, August 14, 2010
Friday, August 13, 2010
Eagle Ford Shale Price Per Acre
By Andrea: http://oilshalegas.com
Recently, Penn Virginia Corp. (PVA) acquired 6800 acres in the Eagle Ford Shale for $31.1 million. This means that the current price of land in the Eagle Ford Shale is running at approximately $4,600 per acre.
Penn Virginia Corporation is an independent oil and gas company engaged primarily in the development, exploration and production of natural gas and oil in various domestic onshore regions including Oklahoma, Texas, the Appalachian Basin and Mississippi. The primary development play types that they are focused on include the horizontal Granite Wash play, the horizontal Haynesville Shale play in East Texas, the horizontal Selma Chalk play in Mississippi and the Cotton Valley play in East Texas.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Recently, Penn Virginia Corp. (PVA) acquired 6800 acres in the Eagle Ford Shale for $31.1 million. This means that the current price of land in the Eagle Ford Shale is running at approximately $4,600 per acre.
Penn Virginia Corporation is an independent oil and gas company engaged primarily in the development, exploration and production of natural gas and oil in various domestic onshore regions including Oklahoma, Texas, the Appalachian Basin and Mississippi. The primary development play types that they are focused on include the horizontal Granite Wash play, the horizontal Haynesville Shale play in East Texas, the horizontal Selma Chalk play in Mississippi and the Cotton Valley play in East Texas.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Thursday, August 12, 2010
Penn Virginia (PVA) Penetrates Eagle Ford Shale
By Andrea: http://oilshalegas.com
Penn Virginia Corp. (PVA) announced an acquisition in the Eagle Ford Shale today where the company acquired roughly 6,800 acres in Gonzales County, Texas. The land was acquired for $31.1 million, totaling about $4600 per acre.
The acreage is estimated to contain over 40 horizontal well locations, with working interest averaging approximately 73 percent (net revenue interest averaging approximately 55 percent). They will operate and expect reserves from wells on the acreage to be predominantly oil.
A. James Dearlove, President and Chief Executive Officer, stated, "We are pleased to have expanded our portfolio to include a position in one of the most exciting new plays in the industry. This acquisition, in a core area of the Eagle Ford Shale, provides us with a high-quality; oily position which we believe will be an excellent use of the proceeds from recent divestitures of non-core assets."
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Penn Virginia Corp. (PVA) announced an acquisition in the Eagle Ford Shale today where the company acquired roughly 6,800 acres in Gonzales County, Texas. The land was acquired for $31.1 million, totaling about $4600 per acre.
The acreage is estimated to contain over 40 horizontal well locations, with working interest averaging approximately 73 percent (net revenue interest averaging approximately 55 percent). They will operate and expect reserves from wells on the acreage to be predominantly oil.
A. James Dearlove, President and Chief Executive Officer, stated, "We are pleased to have expanded our portfolio to include a position in one of the most exciting new plays in the industry. This acquisition, in a core area of the Eagle Ford Shale, provides us with a high-quality; oily position which we believe will be an excellent use of the proceeds from recent divestitures of non-core assets."
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Thursday, October 2, 2008
Haynesville Shale: Penn Virginia ( PVA ) Update 10/02/08
Penn Virginia ( PVA ) came out today and gave operational guidance specifically on the Haynesville Shale.
A. James Dearlove, President and Chief Executive Officer of PVA, commented, "In spite of the reduced guidance levels for 2008, our growth strategy remains intact in all of our significant resource plays. The reduced 2008 guidance is largely the result of a number of unanticipated circumstances, including the effects of two hurricanes which impacted our largest producing region in East Texas. In addition, we are accelerating the transition from an exclusive vertical Cotton Valley development program in East Texas, which was supported by six drilling rigs at the beginning of 2008, to the current combination of four to five rigs drilling horizontal Lower Bossier (Haynesville) Shale wells and two to three rigs drilling vertical Cotton Valley wells. The near-term effect of this transition is a delay of production contributions from the horizontal shale drilling program, which has much longer spud-to-production lead time relative to vertical Cotton Valley wells. Even though this decision has affected near-term production growth, the benefits of expected superior economic returns and accelerated long-term production growth favor this approach, as reflected in our preliminary 2009 guidance.”
http://biz.yahoo.com/bw/081002/20081002006238.html?.v=1
For more on companies drilling in the Haynesville Shale and other shale plays, visit http://oilshalegas.com
A. James Dearlove, President and Chief Executive Officer of PVA, commented, "In spite of the reduced guidance levels for 2008, our growth strategy remains intact in all of our significant resource plays. The reduced 2008 guidance is largely the result of a number of unanticipated circumstances, including the effects of two hurricanes which impacted our largest producing region in East Texas. In addition, we are accelerating the transition from an exclusive vertical Cotton Valley development program in East Texas, which was supported by six drilling rigs at the beginning of 2008, to the current combination of four to five rigs drilling horizontal Lower Bossier (Haynesville) Shale wells and two to three rigs drilling vertical Cotton Valley wells. The near-term effect of this transition is a delay of production contributions from the horizontal shale drilling program, which has much longer spud-to-production lead time relative to vertical Cotton Valley wells. Even though this decision has affected near-term production growth, the benefits of expected superior economic returns and accelerated long-term production growth favor this approach, as reflected in our preliminary 2009 guidance.”
http://biz.yahoo.com/bw/081002/20081002006238.html?.v=1
For more on companies drilling in the Haynesville Shale and other shale plays, visit http://oilshalegas.com
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