Penn Virginia Corp. today announced the concurrent retirement of John A. Brooks and appointment of Darrin J. Henke as President, Chief Executive Officer and Director of the Company, effective immediately. “The Board is thankful for John’s years of service and leadership. He steadied us during a challenging period in the industry,” said Darin G [...]
Penn Virginia Corp. today announced its financial and operational results for the second quarter 2020. Recent Significant Highlights Generated net cash provided by operating activities of $56.4 million and free cash flow of $6.6 million for the second quarter of 2020 and expects to generate significant FCF for 2020; Produced 18,888 barrels of oil [...]
Penn Virginia Corp. today announced an operational update and timing of its second-quarter 2020 earnings release and conference call. Operational and Financial Update Estimated production for the second quarter of 2020 of between 18,500 – 18,900 barrels of oil per day and between 24,100 – 24,600 barrels of oil equivalent per day; Realized oil price [...]
Penn Virginia Corp. today announced the resignation of Brian Steck from Penn Virginia's Board of Directors effective June 26, 2020, following a reduction of Mangrove Partners' holdings in the Company. Mr. Steck's resignation was not the result of any disagreements with the Company. Darin Holderness, Chairman of the Penn Virginia Board, commented [...]
Penn Virginia Corp. today announced its financial and operational results for the first quarter 2020. Recent Significant Highlights Generated net cash provided by operating activities of $72.5 million and free cash flow of $10.5 million for the first quarter of 2020 and expects to generate significant FCF for 2020; Produced 20,665 barrels of oil [...]
Penn Virginia Corp. today announced a business update, completion of the Company’s spring borrowing base redetermination and timing of its first-quarter 2020 earnings release and conference call. Operational Update Halted all drilling and completion activity in early April of 2020; Deferred completion of eight wells until late this year; Secured [...]
Penn Virginia Corp. today announced the Company has reduced its 2020 capital budget and increased its 2020 oil hedge positions. 2020 Development Plans Update The Company has reduced its 2020 capital budget by approximately 30% from its original budget. Penn Virginia's drilling rig and completion contracts are structured to provide ongoing [...]
--- Generated Net Cash Provided by Operating Activities of $76 Million and Free Cash Flow of $4 Million for the Fourth Quarter 2019 --- --- Grew Oil Production by 23% and Total Production by 27% for 2019 --- HOUSTON, Feb. 27, 2020 -- Penn Virginia Corp. today announced its financial and operational results for the fourth quarter and full-year 2019 [...]
Penn Virginia Corp. announced today that it will release fourth quarter and full-year 2019 results after the market closes on Thursday, February 27, 2020, and hold a conference call and webcast on Friday, February 28, 2020, at 11 a.m. Eastern. Event: Penn Virginia Corp. Fourth Quarter 2019 Earnings Call Earnings Call Timing: Friday, February 28 [...]
Penn Virginia Corp. today announced the Company’s completion of its fall borrowing base redetermination, increased commodity hedge position, and participation in upcoming investor conference. John A. Brooks, President and Chief Executive Officer of Penn Virginia commented, “Penn Virginia greatly appreciates the ongoing support from our [...]
Penn Virginia Corp. today announced its financial and operational results for the third quarter of 2019. Significant Operational and Financial Highlights Produced 29,003 barrels of oil equivalent per day for the third quarter of 2019; Reported net income of $54.4 million, or $3.59 per diluted share, and adjusted net income of $29.8 million, or [...]
Penn Virginia Corp. today announced that Russell T. Kelley, Jr. has been named Senior Vice President, Chief Financial Officer and Treasurer effective November 13, 2019. Mr. Kelley previously served as Chief Financial Officer of Extraction Oil & Gas Inc. Prior to joining Extraction Oil & Gas, Mr. Kelley ran the Oil & Gas practice of Moelis [...]
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