--- Commodity Hedging Update ---
--- Upcoming Conference Attendance ---
Hedging Update
Penn Virginia enters into oil hedges on a portion of its production to help mitigate commodity price risk. The Company recently increased its oil hedges for 2020.
The table below sets forth Penn Virginia’s oil hedge positions as of
WTI - Oil Volumes (Bbls Per Day) | WTI - Average Swap Price ($/barrel) | LLS - Oil Volumes (Bbls Per Day) | LLS - Average Swap Price ($/barrel) | MEH - Oil Volumes (Bbls Per Day) | MEH - Average Swap Price ($/barrel) | ||||
Q4 2019 | 11,400 | 5,000 | 1,000 | ||||||
2020 | 12,400 | - | - | 2,000 |
The Company's management will attend and participate in meetings at Capital One's 14th Annual
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Forward-Looking Statements
This communication contains certain “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that are not historical facts are forward-looking statements, and such statements include, words such as “anticipate,” “forward,” “outlook,” “expects,” “intends,” “plans,” “believes,” "future,” “potential,” “may,” “possible,” “should,” “would,” “could” and variations of such words or similar expressions, including the negative thereof, to identify forward-looking statements. Because such statements include assumptions, risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to, the following: our ability to realize the desired benefits of hedges and predict commodity price changes; the effect of commodity and financial derivative arrangements with other parties, and counterparty risk related to the ability of these parties to meet their future obligations; any decline in and volatility of expected and realized commodity prices for oil, NGLs, and natural gas; our ability to comply with our credit agreement and maintain or increase our borrowing base; the uncertainties inherent in projecting future rates of production for our wells and the extent to which actual production differs from that estimated in our proved oil and gas reserves; and other risks set forth in our filings with the
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Investor Relations
Ph: (713) 722-6540
E-Mail: invest@pennvirginia.com
Source:
2019 GlobeNewswire, Inc., source