Basis of Presentation	6 Months Ended
Jun. 30, 2011
Basis of Presentation	2. Basis of Presentation Our Condensed Consolidated Financial Statements include the accounts of Penn Virginia and all of its subsidiaries. Intercompany balances and transactions have been eliminated in consolidation. Our Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America. 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, 2010. Operating results for the six months ended June 30, 2011 are not necessarily indicative of the results that may be expected for the year ending December 31, 2011. Certain amounts for the 2010 period have been reclassified to conform to the current year presentation. There were neither any new accounting standards issued during the quarter ended June 30, 2011, nor any accounting standards pending adoption that would have a significant impact on our financial statements and notes to the financial statements. Management has evaluated all activities of the Company through the date upon which the Condensed Consolidated Financial Statements were issued and concluded that, except for additional leasehold acquisitions in the Eagle Ford Shale (see Note 3), the execution of an agreement to sell substantially all of our assets in the Arkoma Basin (see Note 3) and the completion of a new credit agreement (“Revolver”)(see Note 7), no subsequent events have occurred that would require recognition in the Condensed Consolidated Financial Statements or disclosure in the Notes to the Condensed Consolidated Financial Statements.

2. Basis of Presentation

Our Condensed Consolidated Financial Statements include the accounts of Penn Virginia and all of its subsidiaries. Intercompany balances and transactions have been eliminated in consolidation. Our Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America. 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, 2010. Operating results for the six months ended June 30, 2011 are not necessarily indicative of the results that may be expected for the year ending December 31, 2011. Certain amounts for the 2010 period have been reclassified to conform to the current year presentation.

There were neither any new accounting standards issued during the quarter ended June 30, 2011, nor any accounting standards pending adoption that would have a significant impact on our financial statements and notes to the financial statements.

Management has evaluated all activities of the Company through the date upon which the Condensed Consolidated Financial Statements were issued and concluded that, except for additional leasehold acquisitions in the Eagle Ford Shale (see Note 3), the execution of an agreement to sell substantially all of our assets in the Arkoma Basin (see Note 3) and the completion of a new credit agreement (“Revolver”)(see Note 7), no subsequent events have occurred that would require recognition in the Condensed Consolidated Financial Statements or disclosure in the Notes to the Condensed Consolidated Financial Statements.