PVA

Penn Virginia Corporation

Industrial/Transportation, Event Driven/Special Sit


Presented:08/01/2014
Price:$12.59
Cap:$0.90B
Current Price:$0.15
Cap:$0.01B

Presented

Date08/01/2014
Price$12.59
Market Cap$0.90B
Ent Value$2.01B
P/E RatioN/A
Book Value$9.42
Div YieldN/A
Shares O/S0.00M
Ave Daily Vol3,200,000
Short Int23.31%

Current

Price$0.15
Market Cap$0.01B
Penn Virginia Corporation, an independent oil and gas company, is engaged in the exploration, development, and production of crude oil, natural gas liquids, and natural gas in various onshore regions of the United States. Its operations include the drilling of unconventional horizontal development wells in shale formations primarily in the Eagle Ford Shale in South Texas. The company also has operations in the Granite Wash in the Mid-Continent, the Haynesville Shale and Cotton Valley in East Texas, the Selma Chalk in Mississippi, and the Marcellus Shale in Pennsylvania. As of December 31, 2013, it had 1,213 productive wells; owned approximately 280,400 acres of leasehold and royalty interests; and had proved reserves of approximately 136 million barrels of oil equivalent. The company was founded in 1882 and is headquartered in Radnor, Pennsylvania.

Publicly traded companies mentioned herein: Penn Virginia Corporation (PVA), Devon Energy (DVN), EOG Resources (EOG), Newfield Exploration Co (NFX), Murphy Oil Corporation (MUR)

Highlights

The presenter took a small position in shares of Penn Virginia (PVA) ahead of 2Q earnings (July 31, 2014), and used the subsequent weakness in the stock price to add to his position. The ~$925 million market cap E&P has “awesome” assets in the Eagle Ford Shale in Texas, and the activist presence of Soros - which has filed a 13D and is putting pressure on management to explore a sale of the company - is “very positive.”

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Idea Discussion

Commentor 1 - 2 weeks ago

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