Penn Virginia +2.2% after selling its Eagle Ford natural gas assets

|About: Penn Virginia Corporation (PVAHQ)|By:, SA News Editor

Penn Virginia (PVA +2.2%) agrees to sell natural gas midstream assets in the Eagle Ford shale to an affiliate of ArcLight Capital for ~$100M to help fund PVA's 2014 capital spending plans.

PVA says the sale is a first step in a series of potential asset sales to help improve its balance sheet and fund future investment in its Eagle Ford oil assets.