Basis of Presentation	6 Months Ended
Jun. 30, 2014
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Our unaudited Condensed Consolidated Financial Statements include the accounts of Penn Virginia and all of our subsidiaries. Intercompany balances and transactions have been eliminated. Our Condensed Consolidated Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Preparation of these statements involves the use of estimates and judgments where appropriate. In the opinion of management, all adjustments, consisting of normal recurring accruals, considered necessary for a fair presentation of our Condensed Consolidated Financial Statements have been included. Our Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes included in our Annual Report on Form 10-K for the year ended December 31, 2013. Operating results for the six months ended June 30, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014. Certain amounts for the 2013 period have been reclassified to conform to the current year presentation. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective on January 1, 2017. The standard permits the use of either the retrospective or cumulative effect transition method upon adoption. We are evaluating the effect that ASU 2014-09 will have on our consolidated financial statements and related disclosures. We have not yet selected a transition method nor have we determined the effect of ASU 2014-09 on our ongoing financial reporting. Management has evaluated all activities of the Company, through the date upon which our Condensed Consolidated Financial Statements were issued. As discussed in Note 3 below, the following events occurred subsequent to June 30, 2014 for which appropriate recognition or disclosure has been made in our Condensed Consolidated Financial Statements and Notes: (i) in July 2014 we entered into an agreement to acquire significant additional Eagle Ford acreage in Lavaca County, Texas, (ii) in July 2014, we received the arbitrator’s determination with respect to our Eagle Ford acquisition in 2013 (the “EF Acquisition”) and (iii) in July 2014, we completed a sale of rights to construct an oil gathering system in South Texas. Except for the aforementioned developments, management has concluded that no subsequent events have occurred that would require recognition in our Condensed Consolidated Financial Statements or disclosure in the Notes to Condensed Consolidated Financial Statements.

Basis of Presentation

Our unaudited Condensed Consolidated Financial Statements include the accounts of Penn Virginia and all of our subsidiaries. Intercompany balances and transactions have been eliminated. Our Condensed Consolidated Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Preparation of these statements involves the use of estimates and judgments where appropriate. In the opinion of management, all adjustments, consisting of normal recurring accruals, considered necessary for a fair presentation of our Condensed Consolidated Financial Statements have been included. Our Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes included in our Annual Report on Form 10-K for the year ended December 31, 2013. Operating results for the six months ended June 30, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014. Certain amounts for the 2013 period have been reclassified to conform to the current year presentation.

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective on January 1, 2017. The standard permits the use of either the retrospective or cumulative effect transition method upon adoption. We are evaluating the effect that ASU 2014-09 will have on our consolidated financial statements and related disclosures. We have not yet selected a transition method nor have we determined the effect of ASU 2014-09 on our ongoing financial reporting.

Management has evaluated all activities of the Company, through the date upon which our Condensed Consolidated Financial Statements were issued. As discussed in Note 3 below, the following events occurred subsequent to June 30, 2014 for which appropriate recognition or disclosure has been made in our Condensed Consolidated Financial Statements and Notes: (i) in July 2014 we entered into an agreement to acquire significant additional Eagle Ford acreage in Lavaca County, Texas, (ii) in July 2014, we received the arbitrator’s determination with respect to our Eagle Ford acquisition in 2013 (the “EF Acquisition”) and (iii) in July 2014, we completed a sale of rights to construct an oil gathering system in South Texas. Except for the aforementioned developments, management has concluded that no subsequent events have occurred that would require recognition in our Condensed Consolidated Financial Statements or disclosure in the Notes to Condensed Consolidated Financial Statements.