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PVA > SEC Filings for PVA > Form 8-K on 1-Aug-2014All Recent SEC Filings

Show all filings for PENN VIRGINIA CORP

Form 8-K for PENN VIRGINIA CORP


1-Aug-2014

Entry into a Material Definitive Agreement, Regulation FD Disclosure, Financia


Item 1.01. Entry into a Material Definitive Agreement.

On July 30, 2014, Penn Virginia Corporation (the "Company"), through its indirect wholly owned subsidiary, Penn Virginia Oil & Gas, L.P. ("PVOG"), entered into a Construction and Field Gathering Agreement (the "Gathering Agreement") with Republic Midstream, LLC ("Republic"). Pursuant to the Gathering Agreement, Republic has agreed to construct, own and operate a crude oil gathering system (the "Gathering System") in portions of Fayette, Gonzales and Lavaca Counties, Texas (the "Area"). PVOG has agreed to dedicate to the Gathering System, and Republic has agreed to receive and gather, all of PVOG's crude oil production in the Area. PVOG's crude oil will be delivered to a central delivery point in Lavaca County, Texas (the "CDP") to be constructed, owned and operated by Republic. Republic will provide storage, batching and blending services to PVOG at the CDP.

PVOG will pay Republic a tiered gathering fee based on the volume of crude oil delivered to the Gathering System. The gathering fee ranges from $1.00 to $2.00 per barrel. PVOG has committed to deliver or pay for a minimum of 15,000 barrels per day of crude oil for 10 years. The term of the Gathering Agreement is 25 years, and the Gathering System is expected to be operational by mid-2015.



Item 7.01. Regulation FD Disclosure.

On July 30, 2014, the Company announced the execution of the Gathering Agreement. The press release is attached hereto as Exhibit 99.1 and is hereby incorporated into this Item 7.01. In accordance with General Instruction B.2 of Form 8-K, the information contained in this Item 7.01 and the press release are being furnished under Item 7.01 of Form 8-K and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall such information and exhibit be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.



Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

99.1 Press release of Penn Virginia Corporation dated July 30, 2014.


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