Penn Virginia Defers Senior Unsecured Notes Offering
07 Mai 2021 - 11:16PM
Penn Virginia Corporation (“Penn Virginia”) (NASDAQ: PVAC) today
announced the deferral of its senior unsecured notes
offering.
Darrin Henke, President and Chief Executive
Officer of Penn Virginia, commented, “We received indications from
potential bond investors that the proposed new financing didn’t
materially differentiate from our financing in place currently.
Given the strength of our balance sheet and the near-term
opportunities to grow both organically and/or through
consolidation, we believe it is in the best interests of our
investors to defer accessing the bond market until we have a more
attractive offering of scale. In the meantime, we remain committed
to our focus on cash on cash returns, capital discipline, and
potentially accretive consolidation opportunities.”
About Penn Virginia
Corporation
Penn Virginia Corporation is a pure-play
independent oil and gas company engaged in the development and
production of oil, natural gas liquids and natural gas, with
operations in the Eagle Ford shale in south Texas.
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 descriptions of historical facts are forward-looking
statements, and such statements are often identified by the words
“anticipate,” “guidance,” “assumptions,” “projects,” “estimates,”
“expects,” “continues,” “intends,” “plans,” “believes,”
“forecasts,” “future,” “potential,” “may,” “possible,” “could” and
variations of such words or similar expressions, including the
negative thereof, to identify forward-looking statements. Because
such statements include risks, uncertainties, and contingencies,
actual results may differ materially from those expressed or
implied by such forward-looking statements. Information concerning
these and other factors can be found in our press releases and
public filings with the U.S. Securities and Exchange Commission.
Many of the factors that will determine our future results are
beyond the ability of management to control or predict. In
addition, readers should not place undue reliance on
forward-looking statements, which reflect management’s views only
as of the date hereof. The statements in this communication speak
only as of the date of the communication. We undertake no
obligation to revise or update any forward-looking statements, or
to make any other forward-looking statements, whether as a result
of new information, future events or otherwise, except as may be
required by applicable law.
This announcement does not constitute an offer
to sell or a solicitation of an offer to buy any securities and
shall not constitute an offer, solicitation or sale in any state or
jurisdiction in which, or to any persons to whom, such an offer,
solicitation or sale would be unlawful.
Contact
Clay JeansonneInvestor RelationsPh: (713) 722-6540E-Mail:
invest@pennvirginia.com
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