3

                            FORM 3

               U.S. SECURITIES AND EXCHANGE COMMISSION
                       Washington, D.C. 20549

              INITIAL STATEMENT OF BENEFICIAL OWNERSHIP

               Filed pursuant to Section 16(a) of the 
               Securities Exchange Act of 1934, Section 
     17(a) of the Public Utility Holding Company Act of 1935 or 
          Section 30(f) of the Investment Company Act of 1940


1.  Name and Address of Reporting Person
    Idiaquez            James             O.
- -------------------------------------------------------
    (Last)              (First)           (Middle)

    5331 Indian Share Lane
- -------------------------------------------------------
                   (Street)

    Houston               TX              77041
- -------------------------------------------------------
    (City)              (State)           (Zip)


2.  Date of Event Requiring Statement
    (Month/Day/Year)
         10/21/98
    ----------------


3.  Issuer Name and Ticker or Trading Symbol
      PENN VIRGINIA CORPORATION (PVA)


4.  Relationship of Reporting Person to Issuer
    (Check all applicable)

    ______ Director                    _____ 10% Owner
    __X___ Officer (Give title below)  _____ Other (specify below)

    Vice President - Corporate Development
    ---------------------------------------


5.  If Amendment, Date of Original
    (Month/Day/Year)


6.  Individual or Joint/Group Filing
    (Check applicable line)
    __X_  Form filed by one Reporting Person
    ____  Form filed by more than one Reporting Person




Table I - Non-Derivative Securities Beneficially Owned


                                   2. Amount of    3. Ownership Form:
                                      Securities      Direct (D)
                                      Beneficially        or     
1. Title of Security                  Owned           Indirect (I)
   --------------------------         -------------   --------------
                                                
   Common Stock $6.25 par value       -0-



                                   4. Nature of Indirect Beneficial
1. Title of Security                  Ownership
   --------------------------         -----------------------------
                                   
   Common Stock $6.25 par value       -0-







Table II -- Derivative Securities Beneficially Owned 
(e.g., puts, calls, warrants, options,convertible securities)


                             2. Date Exercisable    3. Title and Amount
                                and Expiration         of Securities
                                Date                   Underlying
                                (Month/Day/Year)       Derivative Security
                                -----------------  --------------------------
                                                                      Amount
                                Date     Expir-                       or Num-
1. Title of Derivative          Exer-    ation                        ber of
       Security                 cisable  Date        Title            Shares
   ------------------------     -------  ---------   --------------   -------
                                                          
   Nonqualified Stock Options   10/15/99 10/14/08    Common Stock     20,000
                                                    ($6.25 par value)


                                                    5.  Ownership
                              4. Conversion             Form of
                                 or Exercise            Derivative
                                 Price of               Security
1. Title of Derivative           Derivative             Direct (D) or
   Security                      Security               Indirect (I)
   --------------------------    ----------------       -------------
                                                  
   Nonqualified Stock Options    $21.625                D


1. Title of Derivative          6. Nature of Indirect
   Security                        Beneficial Ownership
   --------------------------      ------------------
                                
   Nonqualified Stock Options      Not Applicable



Explanation of Responses:


Intentional misstatements or
omissions of facts constitute
Federal Criminal Violations.



  JAMES O. IDIAQUEZ                       October 30, 1998
- -----------------------------             ----------------
Signature of Reporting Person                   Date



By:         /S/ Nancy M. Snyder
    ---------------------------------------
    General Counsel and Corporate Secretary
    Authorized Signer

EX-24

                      LIMITED POWER OF ATTORNEY
                      -------------------------

     KNOW ALL MEN BY THESE PRESENTS, that the undersigned individual,
James O. Idiaquez, does hereby appoint Nancy M. Snyder as his
true and lawful attorney to execute and deliver for him and in his name
all Forms 3, 4 and 5 filed on behalf of the undersigned pursuant to 
Section 16 of the Securities Exchange Act of 1934.

     The undersigned hereby ratifies and confirms all that said attorney
shall do by virtue of the powers granted hereby.  The undersigned does
hereby indemnify such attorney, and holds such attorney harmless, from
all claims which may be made against the undersigned as a result of her
serving as the undersigned's attorney except to the extent that such claims
result from her willful misconduct.

     This Power of Attorney shall terminate immediately upon the under-
signed's written revocation hereof.

     IN WITNESS WHEREOF, and intending to be legally bound, the under-
signed has executed and delivered this Power of Attorney this 29th day
of October 1998.

                                       /S/ James O. Idiaquez
                                       --------------------------