Penn Virginia Corp. said Tuesday that its 40 percent working-interest partner in its Lavaca County Eagle Ford Shale acreage has elected to go nonconsent on the last 17 initial unit wells it has drilled or expects to drill on the acreage.
The Radnor, Pa.-based oil-and-gas exploration-and-production company said it intends to seek a partner to acquire the working interest, but hasn?t set a time frame to find one and can?t guarantee that it will.
Penn Virginia (NYSE:PVA) has drilled initial wells in seven of the drilling units, is drilling initial wells in two of them and hasn?t started drilling initial wells in the remaining eight. After it drills the initial wells, the partner will have no position in the remaining wells drilled in the units. Penn Virginia expects that each drilling unit will support up to four primary wells in addition to the initial one.
Peter covers education, energy, labor, technology and venture capital.
Source: http://feedproxy.google.com/~r/vertical_29/~3/6TSYXq7WJYs/penn-virginia-seeking-partner-for.html
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