One-Page Deal Sheet
Penn Virginia to Shed Eagle Ford Midstream Assets
Not Disclosed Penn Virginia Corp
Announced Date
December 16,2013
Transaction Type
Asset
Transaction Details: Subscribe to see
Penn Virginia Corporation has entered into a definitive agreement to sell substantially all of its Eagle Ford Shale natural gas midstream assets to a newly-formed affiliate of ArcLight Capital Partners, LLC for gross cash proceeds of $100 million.
This sale is expected to close during the first quarter of 2014 and is subject to customary closing conditions. Net of our partners' interest in the gross proceeds from this sale, we intend to use the remaining proceeds of approximately $95 million to help fund our 2014 capital expenditure plan.
The assets to be sold include a natural gas gathering…