Penn Virginia Is Finally Free To Grow [Seeking Alpha]
DENBURY RESOURCES (DNR)
Last denbury resources earnings: 2/25 06:30 am
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US:NYSE Investor Relations:
denbury.com/investor-relations/investor-presentations-and-webcasts/default.aspx
Company Research
Source: Seeking Alpha
Penn Virginia Is Finally Free To Grow Summary Production more than doubled from the end of 2016. Lease operating expenses at a little more than $4 BOE are excellent. The company gets premium pricing for its oil when compared to WTI. The Eagle Ford does not have the midstream capacity issues of the Permian. The enterprise value-to-EBIDTAX ratio is low. Last time Penn Virginia (NASDAQ: PVAC DNR recent news of the cancellation of the merger agreement Penn Virginia has an excellent location in the Eagle Ford. This should enable the company to do well independently. Originally pressure from debtors who became shareholders during the reorganization process pressured management to begin an auction process that would sell the company. Then these debtors would receive cash for their holdings without the necessity of slowly selling shares over time along with the associated price risks. The winning bid was submitted by Denbury Resources. But the market never reacted well to that bid from the an
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