Penn Virginia gets U.S. antitrust OK for Eagle Ford midstream deal

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

Penn Virginia's (PVA) sale of nearly all its Eagle Ford shale midstream assets to an affiliate of ArcLight Capital for $100M does not pose any competition concerns, the U.S. government says.

The Eagle Ford deal is one of a number of asset sales PVA is considering, and the cash from the deals would fund its investment in oil exploration and production in the play.

PVA shares rose 7.3% in today's trade.