Penn Virginia Corp. (NYSE: PVA) trimmed its fourth quarter output
forecast, citing the timing of Eagle Ford Shale completions and the use
of a revised "type curve" profile for estimating production from Eagle
Ford Shale wells.
The Radnor, Pennsylvania-based company now expects fourth quarter
production of 10.7 to 11.0 billions of cubic feet equivalent (Bcfe),
down from prior view of 12.2 to 12.7 Bcfe.
About 24 percent of quarterly production is expected to be crude oil
and around 12 percent of which is expected to be natural gas liquids.
The oil and gas company is engaged primarily in the development,
exploration and production of natural gas and oil in various domestic
onshore regions including Texas, Appalachia, the Mid-Continent and
PVA, which has been trading in the 52-week range between $4.35 and
$18.46, ended Monday's regular trading 7.3 percent lower at $5.91.