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Penn Virginia Corporation
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2013 Analyst Day
| H. Baird Whitehead; John A. Brooks; George Dillman; Frank E. Falbo; Jerry C. Gilmore; Jill T. Zivley; Steven A. Hartman | Page 5 of 11 |
November 23, 2024
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2013 Year to Date Accomplishments 4 ? Made a transformational Eagle Ford Shale acquisition ? Have increased our acreage position ~25% since the acquisition closed ? Have increased 3P Eagle Ford reserves from 140 MMBOE pro forma to 170 MMBOE in less than a year (21% increase) ? PVA’s share price has increased ~100% from $5.04 to $10.03/share in ~two months ? MHR Eagle Ford Shale acquisition ? The remaining 9.3 MM share MHR overhang has recently been removed ? Provided 2014 oil production growth guidance of 65% to 85% ? Debt-to-enterprise value has decreased from 80% to 57% in ~two months ? Our current Eagle Ford position is likely worth a minimum of $2.0 B ? Our 2014E CFPS multiple has increased recently from ~1.0x to ~1.8x, but we believe we have much upside ? We have operational momentum and for this reason there is a significant amount of institutional interest in the company