Penn Virginia Lands $100M For Eagle Ford Gas Assets

Law360, New York (December 16, 2013, 1:41 PM EST) -- Penn Virginia Corp. said Monday that it's selling virtually all of its natural gas midstream assets in Texas' Eagle Ford to an affiliate of energy-focused private equity firm ArcLight Capital Partners LLC for $100 million, so it can focus on its oil operations in the oil-rich shale region.

Penn Virginia said the assets being sold to a newly formed ArcLight unit include a natural gas gathering and gas lift system — including approximately 119 miles of pipelines and associated facilities — located in Gonzales and Lavaca...
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