| About Our Name: |
We shortened our legal name to PVR Partners, L.P., from Penn Virginia Resource Partners, L.P. in August 2012 |
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| Primary Business: |
Energy |
- Owning/operating natural gas midstream pipelines and processing plants
- Owning/managing coal reserves and other natural resources
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| Ticker Symbol: |
PVR (Listed NYSE) |
| In Business Since: |
Initial Public Offering - October, 2001 |
| Headquarters: |
Radnor, PA |
| Major Offices: |
Dallas, TX; Kingsport, TN; Williamsport, PA |
Assets/Operating
Locations: |
Illinois, Indiana, Kentucky, New Mexico, Oklahoma, Pennsylvania, Tennessee, Texas, Virginia, West Virginia, Wyoming |
Vital Statistics:
(year ending
12/31/12) |
Gathering Pipeline |
4,758 miles |
| Natural Gas Processing Capacity |
460 million cubic feet/day |
| Natural Gas Throughput (Annual Average) |
1,018 million cubic feet/day |
| Coal Reserves |
871 million tons |
| Coal Royalty Tons |
30.2 million |
| Cash Distributions Paid:
(2012) |
$2.10 per limited partnership unit |
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| 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: |
In May 2012, we significantly expanded our midstream business in the North Central Pennsylvania region of the Marcellus Shale with the acquisition of Chief Gathering. Chief Gathering's assets include six natural gas gathering systems serving over 300,000 dedicated acres. The Chief Gathering systems include a new 24-inch diameter, 750 MMcfd trunkline in Wyoming County, that began service in the fourth quarter of 2012.
In May 2012 we also announced $380 million of planned Marcellus Shale midstream expansion projects, including the construction of the third phase of our 30-inch diameter, 850 MMcfd capacity trunkline in Lycoming County, Pennsylvania. We are also building a parallel joint venture water pipeline that delivers fresh water to Marcellus producers for well completions.
In June 2012 we completed construction of a second 60 MMcfd expansion to our recently acquired Antelope Hills processing plant in our Panhandle System that gathers natural gas in Texas and Oklahoma. These two plant expansions have relieved processing capacity constraints and position us to capture additional volumes from the continued strong drilling activity in the liquids-rich Granite Wash basin.
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