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Forum List » Business News and Headlines SEC Filings, Earing Reports, Press Releases  
Penn Virginia Corp. Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: November 3, 2011 01:32PM
Penn Virginia Corp. (PVA) filed Quarterly Report for the period ended 2011-09-30. Highlight of Business Operations:As illustrated below, oil and NGL production volume coupled with improved oil and NGL pricing were the significant factors for increasing revenues. The increase was partially offset by lower natural gas production volume and prices. The following table provides an analysis of the change in our revenues for the three months ended September 30, 2011 as compared to the three months ended September 30, 2010:As illustrated below, oil and NGL production volume coupled with improved oil and NGL pricing were the significant factors for increasing revenues. The increase was partially offset by lower natural gas production volumes and prices. The following table provides an analysis of the change in our revenues for the nine months ended September 30, 2011 as compared to the nine months ended September 30, 2010: Cash used in investing activities was $287.1 million in the nine months ended September 30, 2011 compared to $148.2 million in the corresponding period in 2010. While capital expenditures, net of property sales, were approximately the same in both periods, the 2010 period expenditures were reduced by $139.1 million of proceeds from the sale of our remaining interests in PVG.
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