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 primarily the Eagle Ford Shale, or Eagle Ford, in South Texas. Its operational facilities are located in Texas and Oklahoma. The Company produces predominantly crude oil and NGLs. The Company's NGLs are sold to interstate and midstream pipelines. The Company's natural gas production is also sold to interstate and midstream pipelines. The Company has approximately 738 gross (478.8 net) productive wells, approximately 90% of which it operated, and owned approximately 224,000 gross (158,600 net) acres of leasehold and royalty interests, approximately 45% of which were undeveloped. The Company owns a contiguous position of approximately 102,000 net acres in Eagle Ford.