PVAC - Penn Virginia: Improved Commodity Prices Could Allow It To Issue New Unsecured Notes At Reasonable Interest Rates
- Penn Virginia's value is estimated at $23 per share in a long-term $65 WTI oil environment.
- Essentially all of its 500 gross locations should provide solid well-level returns at that oil price.
- Penn Virginia's net debt should fall below 1.0x unhedged EBITDAX at $65 WTI oil by the end of 2021.
- It also may be able to issue new unsecured notes at a relatively low (6% or under) interest rate in the current oil pricing environment.
For further details see:
Penn Virginia: Improved Commodity Prices Could Allow It To Issue New Unsecured Notes At Reasonable Interest Rates