Seeking Alpha

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

  • 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.
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