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Penn Virginia's Eagle Ford Production Exceeds Expectations
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Penn Virginia Corporation reported financial results for the three months ended June 30, 2014 and provided updates of its operations, 2014 guidance and 2015 preliminary guidance.
Key Highlights: Second quarter production from Eagle Ford Shale operations increased six percent to 15,618 barrels of oil equivalent per day (BOEPD) compared to 14,761 BOEPD in the prior quarter. Since our last quarterly report, our operated Eagle Ford wells had an average initial potential (IP) of 1,514 BOEPD (excluding shallow wells), including one well with an IP of 3,175 BOEPD. Our Upper Eagle Ford well production is exceeding expectations. Adjusted second quarter EBITDAX, a non-GAAP (generally accepted accounting principles) measure, grew to $95.0 million from $93.8 million in the first…- ✓ Full news archive — U.S., Canada & international coverage
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