Exploration & Production | Top Story | Forecast - Production
Penn Virginia Edits Guidance Due to Completion Delays
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Penn Virginia Corporation has reported an updated guidance for the second half of 2014.
Although well results continue to meet or exceed expectations, we anticipate delays in the timing of completions associated with our second half of 2014 drilling program, including those wells to be drilled with the recently added seventh and eighth drilling rigs. In addition, as a result of the delays, we now expect four (2.5 net) fewer wells will be turned in line in 2014, with those four wells now expected to be turned in line during the first quarter of 2015.
During the second half of 2014, production is now expected to range between 23.4 and 25.5 thousand barrels of oil equivalent per day (MBOEPD), with production of 20.8 to 22.0 MBOEPD expected during the third quarter and 26.0 to 29.0 MBOEPD…
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