One-Page Deal Sheet
Penn Virginia Acquires Marcellus Shale Acreage
Penn Virginia Corp Not Disclosed
Announced Date
May 28,2010
Transaction Type
Property
Enterprise Value (EV)($MM)
20
Location
Calculated Metrics( EV/Category)
Region
Northeast
Country
United States
State
Pennsylvania
County
Tioga ,Somerset
Play
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Subscribe to see
Penn Virginia Corporation announced that it has acquired approximately 10,000 net Marcellus Shale acres primarily in Potter, Somerset and Tioga Counties, Pennsylvania in two transactions for approximately $19.5 million in cash and overriding royalty interests on a portion of the acquired acreage.
The first acquisition was from a private oil and gas firm who was PVA’s joint venture partner. The acquired leases were located primarily in Potter, Somerset and Tioga Counties, including approximately 7,900 net acres with Marcellus Shale rights and approximately 23,000 net acres with deeper rights.
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