| Our Full Name: |
Penn Virginia Resource Partners, L.P. |
 |
| Primary Business: |
Energy |
- Owning/managing coal reserves and other natural resources
- Owning/operating natural gas midstream pipelines and processing plants
|
| Ticker Symbol: |
PVR (Listed NYSE) |
| In Business Since: |
Initial Public Offering - October, 2001 |
| Headquarters: |
Radnor, PA |
| Major Offices: |
Dallas, TX; Kingsport, TN; Houston TX |
Assets/Operating
Locations: |
Illinois, Kentucky, New Mexico, Oklahoma, Pennsylvania, Tennessee, Texas, Virginia, West Virginia, Wyoming |
|
Vital Statistics:
(year ending
12/31/11) |
Coal Reserves |
893.3 million tons |
| Annual Coal Production |
38.4 million tons |
| Gathering Pipeline |
4,426 miles |
| Natural Gas Processing Capacity |
420 million cubic feet / day |
| Natural Gas Throughput |
495 million cubic feet / day |
Key Financials:
(year ending
12/31/11) |
|
|
| Operating Income |
$153.6 million |
| Net Income |
$97.0 million |
| Cash Distributions |
$1.94 per limited partnership unit |
|
|
| Brief History: |
Although we have only been a publicly traded partnership since 2001, we have owned and leased coal reserves since 1882. PVR entered the natural gas midstream business in 2005 with the purchase of gathering pipelines and processing plants in the panhandle area of Texas and Oklahoma.
Penn Virginia Corporation (NYSE: PVA) was the original sponsor of PVR, and managed the business until early 2010. In 2006, PVA formed Penn Virginia GP Holdings, L.P. (NYSE:PVG) as a new owner of our general partner and simultaneously sold a partial interest in a public offering. In 2010, PVA sold its remaining stake in PVG, and a separate, independent management team was recruited to run the business. We simplified our organizational structure in 2011 by acquiring PVG, and merging the general partner back into PVR. |
| Current Major Initiatives: |
We completed construction and began operation of the second phase of our new 30-inch diameter, 850 MMcfd capacity natural gas midstream pipeline in the in North Central Pennsylvania region of the Marcellus Shale in February 2012. We are also building a parallel joint venture water pipeline that delivers fresh water to Marcellus producers for well completions.
We are constructing two 60 MMcfd expansions to a recently acquired processing plant in our Panhandle System that gathers natural gas in Texas and Oklahoma. These plant expansions are expected to relieve processing capacity constraints and position us to capture additional volumes from the continued string drilling activity in the liquids-rich Granite Wash basin.
During 2011 we acquired approximately 148 million tons of coal reserves and resources. We continue to develop and integrate these new assets into our natural resources portfolio and work with our lessees to increase production from these properties. |