Penn Virginia buys Eagle Ford shale assets for $45M

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

Penn Virginia (PVA) agrees to acquire Eagle Ford acreage for $45M from an unnamed seller.

The acquired acreage is adjacent to PVA's Shiner area, and is estimated to contain ~150 gross potential drilling locations, most of which should be prospective in the Upper Eagle Ford Shale.

PVA says the deal will bring its total Eagle Ford acreage position to ~142.5K acres.