Penn Virginia Corp., Radnor, Pa., (NYSE: PVA) has acquired assets in East Texas, from an undisclosed seller for $44.9 million. The assets include approximately 4,800 gross acres (4,700 net) in the Cotton Valley adjacent to Penn Virginia's North Carthage Field in Harrison and Panola counties. The properties feature 110 potential Cotton Valley locations. Production is 1.1 million cubic feet of gas equivalent per day. Proved reserves are 21.9 billion cubic feet equivalent (2.4 billion proved developed) and probable and possible reserves are 104 billion cubic feet equivalent.
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