Six months after selling its Appalachian Basin portfolio to focus on the oily Eagle Ford Shale, Penn Virginia Corp. (PVA) said its operations in the latter were moving forward while proved reserves of oil and natural gas liquids (NGL) had increased during 2012.
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Articles from Penn
Shale Gas Development to Pay Down the Line, says Chief CEO
Development of the nation’s shale natural gas plays may be a thankless job for producers today, but its value will pay off in the years to come, according to the CEO of Chief Oil & Gas LLC, who hopes to expand his company’s presence in the Marcellus and Utica shales.
PVR’s New Marcellus Exit Enters Service
Penn Virginia Resource Partners LP (PVR) has begun service on a new 30-mile, 24-inch diameter trunkline serving Marcellus Shale producers in north-central Pennsylvania with 750 MMcf/d of capacity. The capacity gives producers shipping gas out of the Marcellus a way around constraints on Tennessee Gas Pipeline’s congested 300 Line.
IHS Analysis: Eagle Ford Is a Bakken Beater
Typical well performance as well as peak-month production of the Eagle Ford Shale’s best wells exceeds those for wells drilled in the Bakken Shale, which is often considered the tight oil standard, according to the “IHS Herold Eagle Ford Regional Play Assessment.”
Penn Virginia Turns Focus to Eagle Ford with Appalachian Sale
Penn Virginia Corp. (PVA) on Tuesday agreed to sell “substantially all” of its gassy Appalachian Basin portfolio, except the Marcellus Shale assets, to help fund development in the oily Eagle Ford Shale in South Texas.
Chesapeake Agrees to $3,500/Acre Signing Bonus in Salem, OH
Chesapeake Energy Corp. and the City of Salem, OH, have agreed to sign a three-year nondevelopmental lease, with an option for an additional three years, for 381 combined acres of land owned by the city. Chesapeake agreed to pay a signing bonus of $3,500/acre, plus 20% royalties on gross revenue on any production.
DCP Midstream Pays $63M for Crossroads Processing Plant
DCP Midstream Partners has moved to increase its market position in East Texas, agreeing to pay Penn Virginia Resource Partners LP (PVR) approximately $63 million for the Crossroads processing plant and associated gathering system in Harrison County, TX, the two companies said.
Four Producers to Anchor PVR’s Marcellus Expansion
Midstream operations in the Marcellus Shale are expanding for Penn Virginia Resource Partners LP (PVR), after the partnership inked agreements last week with four big natural gas producers to extend the Lycoming County, PA, pipeline system for access to multiple markets.
Four Producers to Anchor PVR Partners Marcellus Expansion
Midstream operations in the Marcellus Shale are significantly expanding for Penn Virginia Resource Partners LP (PVR), after the partnership inked agreements with four of the biggest natural gas producers to extend its Lycoming County, PA, pipeline system to provide access to multiple markets.
Penn Virginia Pays $1B for Chief’s Marcellus Gathering Unit
Penn Virginia Resource Partners LP (PVR) is buying Chief Gathering LLC for $1 billion. Chief Gathering serves northeastern Pennsylvania Marcellus Shale producers and is a sister company to producer Chief Oil & Gas LLC.