Penn Virginia expects delays in timing of completions in H2 drilling program

Penn Virginia (NYSE:PVA) says well results continue to meet or exceed expectations, but it anticipates delays in the timing of completions associated with its H2 2014 drilling program.

As a result of the delays, PVA now expects four fewer wells will be turned in line in 2014, with the wells expected to be turned in line during Q1 2015.

H2 production is now expected at 23.4K-25.5K boe/day, with production of 20.8K-22K boe/day expected in Q3 and 26K-29K boe/day in Q4.

H2 capital expenditures are seen at $380M-$420M.

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