Penn Virginia Revises 4Q Production Estimate

Penn Virginia Corporation today provided an update of fourth quarter 2011 guidance.

Fourth Quarter 2011 Guidance Update

Fourth quarter 2011 guidance highlights are as follows:

•Fourth quarter production guidance of 10.7 to 11.0 Bcfe, approximately 24 percent of which is expected to be crude oil and approximately 12 percent of which is expected to be natural gas liquids.

•The revised fourth quarter production guidance represents a decrease of 1.5 to 1.7 Bcfe from previous guidance of 12.2 to 12.7 Bcfe, primarily due to the timing of Eagle Ford Shale completions and the use of a revised “type curve” profile for estimating production from Eagle Ford Shale wells.

We remain pleased with the results of our Eagle Ford Shale drilling program and remain confident in the reserve expectations and attractive economics for our Eagle Ford wells.