Penn Virginia Corporation (NYSE:PVA) recently announced that it has completed an agreement with an undisclosed major oil and gas company to jointly explore the Eagle Ford Shale in Lavaca County, Texas. The agreement establishes an area of mutual interest (AMI) between PVA, as operator, and the other company covering approximately 13,000 gross acres near PVA's existing acreage in southeastern Gonzales County. Depending on the future participation of other companies, PVA's minimum working interest in this project will be approximately 50 percent.

Penn Virginia Corporation, an independent oil and gas company, engages in the exploration, development, and production of natural gas and oil in various domestic onshore regions of the United States, including Texas, Appalachia, the Mid-Continent, and Mississippi.

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