Penn Virginia Corporation (Penn Virginia) is an independent oil and gas company. The Company is engaged in the exploration, development and production of crude oil, natural gas liquids (NGL) and natural gas in onshore regions of the United States. Its current operations consist of drilling unconventional horizontal development wells in the Eagle Ford Shale in South Texas. The Company also has operations in the Granite Wash in the Mid-Continent, the Haynesville Shale and Cotton Valley in East Texas and the Selma Chalk in Mississippi. The Company also operated three operated wells in the Marcellus Shale in Pennsylvania. As of December 31, 2013, the Company�s reserves were approximately 136 million barrels of oil, of which 40 percent were proved developed reserves and 61 percent were oil and NGLs. In 2013, Penn Virginia drilled 59 wells, of which 58 were productive and one was under evaluation. The Company also drilled 57 wells in the Eagle Ford Shale.