Preliminary Full-Year 2013 GuidanceAs a result of recent equity offerings, the sale of our Appalachian assets and the receipt of a federal income tax refund, we expect to have over $300 million of available liquidity in the form of cash and equivalents and revolver availability as we enter 2013. Preliminarily, we estimate 2013 capital expenditures will range between $310 and $345 million, compared to the mid-point of 2012 capital expenditures guidance of $343 million. This range is contingent on our partner in Lavaca County participating in applicable Lavaca County wells that we plan to drill. During 2013, approximately 85 percent of our capital expenditures will be allocated to activity in Gonzales and Lavaca Counties. Preliminarily, full-year 2013 production is estimated to be approximately 34 to 37 Bcfe, compared to the mid-point of 2012 production guidance, pro forma for the sale of our Appalachian assets, of approximately 34 Bcfe. We estimate that 2013 oil and NGL production will range between 55 and 65 percent of total production. Full year crude oil production is expected to be approximately 25 percent higher in 2013 than the midpoint of 2012 production guidance, while fourth quarter 2013 oil production is expected to be approximately 40 percent higher than the midpoint of fourth quarter 2012 oil production guidance. Our expected cash flows in 2013, along with available liquidity as we enter 2013, are expected to be more than sufficient to fund 2013 capital expenditures.
Penn Virginia Corporation Announces Third Quarter 2012 Results; Provides Updates Of Operations And Full-Year 2012 Guidance; Provides Preliminary 2013 Guidance
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