One-Page Deal Sheet
Penn Virginia Sells Woodford Properties To Unit Corporation
Unit Corp. Penn Virginia Corp
Announced Date
July 29,2011
Close Date
August 31,2011
Transaction Type
Property
Enterprise Value (EV)($MM)
31
Location
Region
Mid-Continent
Country
United States
State
Oklahoma
Play
Production Production
Transaction Details: Subscribe to see
Penn Virginia Corporation announced that it entered into a definitive agreement to sell substantially all of its Arkoma Basin properties, together with certain other Mid-Continent properties, to an undisclosed buyer for $30.5 million in cash. This sale is expected to close by the end of August and is subject to customary closing conditions and purchase price adjustments.
The properties being sold include the Hartshorne coalbed methane and Woodford Shale formations, as well as a number of conventional natural gas play types. The properties are currently producing, on a net basis, approximately…
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