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Penn Virginia Sells Eagle Ford Pipeline, Gas Assets

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December 16, 2013

Penn Virginia Corp. (NYSE: PVA) announced Dec. 16 that it’s selling substantially all of its natural gas midstream assets in the Eagle Ford for $100 million.

The Ragnor, Penn.-based company entered into a definitive agreement with a newly-formed affiliate of ArcLight Capital Partners LLC, an investment firm with $10 billion under management.

PVA is selling a natural gas gathering and gas lift system, including some 119 miles of pipelines and associated facilities located in Gonzales and Lavaca counties, Texas. The sale is expected to close in first quarter 2014.

"The ...

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