BNET Industries

Market Cap:$938.1M
Last Fiscal Year Sales:$1.2B
  • Public
  • US
Dow Jones Description

It may share it's name with two states but this corporation is one barrel of success.Founded in 1882 and headquartered in Radnor, PA, Penn Virginia Corporation (NYSE: PVR) engages in the exploration, acquisition, and development of natural gas as well as crude oil. It currently owns about 2.9 million barrels of oil and 359 billion cubic ft. of natural gas, in addition to 1,500 wells. The company operates mainly in the Appalachian area, as well as East Texas and the Gulf Coast. It had 2005 revenue of about $673.9 million and employs about 230 people. In April 2006, it acquired Crow Creek Holding Corporation in a cash transaction for $71.5 million subject to certain adjustments. Crow Creek is a privately owned independent exploration and production company with operations primarily in the Oklahoma portions of the Arkoma and Anadarko Basins.

Chief Executive Officer
A. James Dearlove
Number of Employees 392
Contact Information

3 Radnor Corporate Ctr Ste 300 100 Matsonford Rd

Radnor, Pennsylvania 19087

www.pennvirgini...

(610) 687-8900

NAICS Code Crude Petroleum and Natural Gas Extraction: 211111

Recent Events

  • Wunderlich Securities Initiates Coverage on Penn Virginia PVA with a Buy

    12/15/09 - Bond / Stock Rating - View Story

  • Penn Virginia Names Former Natco CEO John Clarke To Its Board

    12/13/09 - Board Member - Entering - View Story

  • Penn Virginia Corp elects John U. Clarke to board

    12/11/09 - Board Member - Entering - View Story

  • UPDATE 1-Penn Virgina posts wider-than-expected Q3 loss

    11/04/09 - Financial Announcement - View Story

  • Penn Virginia Corporation Schedules Conference Call for Second

    7/09/09 - Financial Announcement - View Story

News & Analysis

penn virginia corp. - All News and Analysis

Decision Makers

Name (plus bio) Position
A. James Dearlove Chief Executive Officer
Frank A. Pici Chief Financial Officer
H. Baird Whitehead COO & Executive Vice President
Keith D. Horton Executive Vice President
Nancy M. Snyder Senior Vice President
Nancy M. Synder General Counsel, Senior Vice President & Secretary
Forest W. McNair Vice President & Controller
Forrest W. McNair Vice President and Controller of the General Partner
Ronald Page Vice President
Edward B. Cloues II Director
Gary K. Wright Director
Joe N. Averett Jr. Director
Marsha R. Perelman Director
Philippe van Marcke de Lummen Director

Board of Directors

Name (plus bio) Position
Robert Garrett Chairman
Merrill A. Miller Board of Directors

A. James Dearlove has served as Chairman of the Board of Directors and Chief Executive Officer of our general partner since December 2002 and July 2001 and as Chairman of the Board of Directors and President and Chief Executive Officer of PVG s general partner since September 2006. Mr. Dearlove has also served in various capacities with Penn Virginia since 1977, including as President and Chief Executive Officer since May 1996, as President and Chief Operating Officer from 1994 to May 1996, as Senior Vice President from 1992 to 1994 and as Vice President from 1986 to 1992. Mr. Dearlove also serves as a director of Penn Virginia and as a director of the National Council of Coal Lessors.

Organization Position Status
Penn Virginia Gp Holdings Chairman of The Board of Directors and Chief Executive Officer of Pvg's General Partner Current
Penn Virginia Resource Partners, L.P. President and CEO Current
Penn Virginia Corporation Chief Executive Officer Current
Pvr Midstream LLC Chairman of the Board of Directors and Chief Executive Officer Current
Penn Virginia Resource Partners, L.P. Director Current
Penn Virginia Gp Holdings Board of Directors Current
Penn Virginia Corporation Director Current
Penn Virginia Oil & Gas Company CEO Former
Penn Virginia Resource Partners, L.P. Chairman of the Board of Directors and Chief Executive Officer Former
Penn Virginia Resource Partners, L.P. President and Chief Operating Officer Former
Penn Virginia Corporation President Former
Penn Virginia Corporation Chief Operating Officer Former
Penn Virginia Resource Partners, L.P. Vice President Former
Penn Virginia Corporation Vice President Former
Penn Virginia Resource Partners, L.P. General Partner Former

Organization Position Status
Pvr Midstream LLC Vice President and Chief Financial Officer Current
Penn Virginia Gp Holdings Director and Vice President and Chief Financial Officer Current
Penn Virginia Gp Holdings Executive Vice President and Chief Financial Officer Current
Penn Virginia Corporation Chief Financial Officer Current
Penn Virginia Resource Partners, L.P. Director and Vice President and Chief Financial Officer Current
Pvr Midstream LLC Board of Directors Current
Penn Virginia Gp Holdings Board of Directors Current
Penn Virginia Resource Partners, L.P. Director Current
Mariner Energy Inc. Chief Financial Officer Former
Penn Virginia Gp Holdings Executive Vice President Former
Penn Virginia Corporation Executive Vice President Former
Penn Virginia Oil & Gas Company Treasurer & Vice President Former
Mariner Energy Inc. Vice President -- Finance Former
Cabot Oil & Gas Corporation Director, Internal Audit Former
Cabot Oil & Gas Corporation Region Accounting Manager Former
Doran & Associates Controller Former
Cabot Oil & Gas Corporation Corporate Controller Former
Cabot Oil & Gas Corporation Board of Directors Former

H. Baird Whitehead has served as our Executive Vice President and Chief Operating Officer since February 2009, after serving as our Executive Vice President since January 2001. He also has served as President of Penn Virginia Oil & Gas Corporation since January 2001. From 1980 to 2001, Mr. Whitehead served in various management and engineering positions with Cabot, including most recently Senior Vice President overseeing its drilling, production and exploration activity in the Appalachian, Rocky Mountain, Mid-Continent and Texas and Louisiana Gulf Coast areas. From 1972 to 1980, Mr. Whitehead held various engineering and supervisory positions with Texaco and Columbia Gas Transmission.

Organization Position Status
Penn Virginia Resource Partners, L.P. President Current
Penn Virginia Corporation COO & Executive Vice President Current
Penn Virginia Corporation Executive Vice President Former
Penn Virginia Resource Partners, L.P. Executive Vice President Former

Organization Position Status
Penn Virginia Coal Company President Current
Pvr Midstream LLC Co-President and Chief Operating Officer Coal Former
Penn Virginia Resource Partners, L.P. Chief Operating Officer Current
Penn Virginia Gp Holdings Executive Vice President Current
Penn Virginia Corporation Executive Vice President Current
Penn Virginia Coal Company Vice President Current
Penn Virginia Gp Holdings Co-President and Chief Operating Officercoal of Pvr General Partner Current
Penn Virginia Resource Partners, L.P. Executive Vice President and Director Current
Bossierville Executive Vice President and Director Current
The Virginia Mining Association, Inc. Director Current
Eastern Coal Council Director Current
Penn Virginia Resource Partners, L.P. Director Current
Penn Virginia Gp Holdings Director Current
Penn Virginia Corporation Director Current

Nancy M. Snyder has served as our Executive Vice President and Chief Administrative Officer since May 2008, as our Executive Vice President from May 2006 to May 2008, as our Senior Vice President from February 2003 to May 2006, as our Vice President from December 2000 to February 2003 and as our General Counsel and Corporate Secretary since 1997. Ms. Snyder has also served as Vice President and General Counsel and as a director of PVG GP, LLC since September 2006 and as Vice President and General Counsel and as a director of Penn Virginia Resource GP, LLC since July 2001. From 1993 to 1997, Ms. Snyder was a solo practitioner representing clients generally in connection with mergers and acquisitions and general corporate matters. From 1990 to 1993, Ms. Snyder served as general counsel to Nan Duskin, Inc. and its affiliated companies, which were in the businesses of women’s retail fashion and real estate. From 1983 to 1989, Ms. Snyder was an associate at the law firm of Duane Morris LLP, where she practiced securities, banking and general corporate law.

Organization Position Status
Penn Virginia Gp Holdings Director and Vice President, Chief Administrative Officer and General Counsel Current
Penn Virginia Resource Partners, L.P. Executive. Vice President and Cao Current
Penn Virginia Corporation Senior Vice President Current
Bossierville Senior Vice President Current
Penn Virginia Gp Holdings Board of Directors Current
Penn Virginia Resource Partners, L.P. Board of Directors Current
Penn Virginia Resource Partners, L.P. Director and Vice President and General Counsel Former
Penn Virginia Resource Partners, L.P. Director of Our General Partner Former
Penn Virginia Resource Partners, L.P. Corporate Secretary Former
Duane Morris Llp Associate Former
Penn Virginia Corporation General Counsel Former

Organization Position Status
Penn Virginia Corporation General Counsel, Senior Vice President & Secretary Current

Forrest W. McNair has served as our Vice President and Controller since May 2005, Vice President and Controller of PVG GP, LLC since September 2006 and as Vice President and Controller of Penn Virginia Resource GP, LLC since October 2001. He has served as our financial reporting manager from September 1998 to October 2001. From May 1997 to September 1998, Mr. McNair was a manager, special projects, and was involved in corporate planning and acquisitions with Southwest Royalties, Inc., a company which primarily deals in oil and gas and real estate, and has a well servicing company. From 1988 to May 1997, Mr. McNair was employed by Decosimo and Company, LLP, a public accounting firm and served as a manager of such company, primarily concentrating in the energy and real estate industries, from 1996 until 1997.

Organization Position Status
Penn Virginia Corporation Vice President & Controller Current

Organization Position Status
Bossierville Vice President and Controller Current
Penn Virginia Corporation Vice President and Controller of the General Partner Current
Pvr Midstream LLC Vice President and Controller of the General Partner Current
Penn Virginia Resource Partners, L.P. Vice President and Controller Current
Penn Virginia Resource Partners, L.P. Financial Reporting Manager Former
Penn Virginia Corporation Financial Reporting Manager Former
ARCO Former
Vastar Resources Inc. Former

Ronald K. Page has served as Co-President and Chief Operating Officer – Midstream of our general partner since June 2006 and as President of PVR Midstream LLC since January 2005. From July 2003 to June 2006, he served as Vice President, Corporate Development of our general partner. Mr. Page has also served in various capacities with Penn Virginia since July 2003 including as Vice President since May 2005 and as Vice President, Corporate Development from July 2003 to May 2005. From January 1998 to May 2003, Mr. Page served in various positions with El Paso Field Services Company including Vice President of Commercial Operations – Texas Pipelines and Processing from 2001 to 2003, Vice President of Business Development from 2000 to 2001 and Director of Business Development from 1999 to 2000.

Organization Position Status
Penn Virginia Resource Partners, L.P. Co-President & Coo, Midstream Current
Penn Virginia Corporation Vice President Current
Penn Virginia Resource Partners, L.P. Vice President, Corporate Development Current
Penn Virginia Resource Partners, L.P. Board of Directors Current
El Paso Field Services Company Vice President of Business Development Former
Enstar Natural Gas Company Vice President of Engineering and Operations Former
Tpc Vice President of Business Development Former
Seagull Energy Corporation Vice President of Operations Former
El Paso Field Services Company Director of Business Development Former
Seagull Energy Corporation Manager of Engineering Former
El Paso Field Services Company Board of Directors Former

Organization Position Status
Admedia Partners, Inc. Managing Director Current
Penn Virginia Corporation Chairman Current
Mickelberry Communications Inc. Director Current
Union Capital Corporation Board of Advisors Member Current
Admedia Partners, Inc. President Former
Admedia Partners, Inc. Founder Former
Smith Barney Investment Banking Former
The New Yorker Former
Penn Virginia Corporation Director Former
Harvard Business School Mba With Distinction Former
Princeton University Ab In History Former

Mr. Cloues has been a director since July 1985 and was most recently reelected at the 2005 annual meeting of shareholders. He became Chairman of the Board and Chief Executive Officer of the Company on January 5, 1998. Prior to joining the Company in 1998, Mr. Cloues was a partner in the law firm of Morgan, Lewis & Bockius LLP. He also is a director and non-executive Chairman of the Board of AMREP Corporation and a director of Penn Virginia Corporation and Penn Virginia Resource GP, LLC, the general partner of Penn Virginia Resource Partners, L.P.

Organization Position Status
K-Tron International, Inc. Chairman of The Board of Directors and Chief Executive Officer Current
AMREP Corporation Non-Executive Chairman of the Board Current
Penn Virginia Resource Partners, L.P. Director Current
K-Tron International, Inc. Director Current
Pvr Midstream LLC Director Current
Penn Virginia Corporation Director Current
AMREP Corporation Director Current
Penn Virginia Gp Holdings Board of Directors Current
Morgan, Lewis & Bockius LLP Partner Former

Consultant (2004 to present); President of LNB Energy Advisors (2003 to 2004), provider of bank credit facilities and strategic advice to small to mid-sized oil and gas producers; independent consultant to energy industry (2001 to 2003); North American Credit Deputy (1998 to 2001) and Managing Director and Senior Client Manager in the Southwest (1992 to 1998) for the Global Oil and Gas Group of Chase Manhattan Bank; Manager of the Chemical Bank Worldwide Energy Group (1990 to 1992); Manager of Corporate Banking (1987 to 1990) and Manager of the Energy Group (1982 to 1987) of Texas Commerce Bank.

Organization Position Status
Penn Virginia Corporation Director Current

Organization Position Status
Penn Virginia Corporation Director Current

Founder and Chief Executive Officer of Woodforde Management, Inc., holding company (1993 to present); co-founder and President of Clearfield Ohio Holdings, Inc., gas gathering and distribution (1983 to 1990); co-founder and Vice President of Clearfield Energy, Inc., crude oil gathering and distribution (1983 to 1990); Director of Penn Virginia Resource GP, LLC

Organization Position Status
Penn Virginia Gp Holdings Director Current
Pvr Midstream LLC Director Current
Penn Virginia Corporation Director Current
Penn Virginia Resource Partners, L.P. Director Current
Holding LLC Chief Executive Officer Former
Penn Central Corporation Vice President, Penn Central Energy Group Former
Holding LLC Founder Former

Organization Position Status
Penn Virginia Corporation Board of Directors Current

Organization Position Status
Cheniere Energy, Inc. Advisor Current
Penn Virginia Corporation Director Current

Executive News

  • K-Tron Reports Second Quarter 2009 Results STRONG CASH FLOW PRODUCES $6.531 MILLION INCREASE IN CASH AND $2.602 MILLION REDUCTION IN DEBT DUR

    Yahoo! Canada - 8/11/09 - View Story

  • K-Tron earnings down, but owner optimistic

    Philadelphia Inquirer - 8/10/09 - View Story

  • K-Tron Reports Second Quarter 2009 Results

    PR Newswire via Yahoo! - 8/10/09 - View Story

  • Penn Virginia Resource Partners, L.P. Announces Processing Plant Acquisition and Expanded...

    Forbes.com - 7/13/09 - View Story

  • Penn Virginia Resource Partners, L.P. Announces Processing Plant Acquisition and Expanded Processing Capacity in the Panhandle System

    Reuters - 7/13/09 - View Story

  • Penn Virginia Resource Partners, L.P. Announces Processing Plant Acquisition and Expanded Processing Capacity in the Panhandle System

    Business Wire - 7/13/09 - View Story

  • Penn Virginia Corporation Schedules Conference Call for Second

    Business Wire via MSN Money - 7/09/09 - View Story

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     PVA $20.67 -0.08 (-0.39% )
Average Volume 552,059
Shares Outstanding 45.39M
Market Cap 938.1M
Year High 31.53
Year Low 7.22
Earnings Per Share -2.44
P/E Ratio -8.47
Dividend 0.23
Yield 1.09
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