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Gold/Mining/Energy : Mining News of Note

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To: LoneClone who wrote (36459)	5/1/2009 7:00:42 PM
From: LoneClone	Read Replies (1) of 193918

Record quarterly production for Penn Virginia Philadelphia Business Journal - by Peter Key Staff Writer philadelphia.bizjournals.com Penn Virginia Corp. said Friday it had record natural gas and oil production in the first quarter. The Radnor, Pa., company said oil and gas production was 152.3 million cubic feet of natural gas equivalent per day in the quarter, up 32 percent from 115.6 million cubic feet of natural gas equivalent in the first quarter of last year. Its previous record was 143.8 million cubic feet in the fourth quarter of last year. Penn Virginia (NYSE:PVA) also said its oil and gas capital expenditures totaled $86 million in the quarter. For the year, Penn Virginia still expects to produce 131.5 million to 137 million cubic feet of natural gas equivalent, but it has lowered its expected capital expenditures to $130 million to $140 million from $210 million to $220 million because it expects natural gas prices to continue to be relatively low in the short term.

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