In connection with the restructuring, the onshore US-focused company has also established a three-person board, with Global Infrastructure Partners managing director Harry Quarls serving as chair. The other members are former Concho Resources chief financial officer Darin Holderness and Wexford Capital senior managing director Marc McCarthy.
More directors may be appointed later.
As part of its plan, Penn Virginia closed on a new credit facility with a maximum note amount of $200 million and an initial borrowing base of $128 million.
It
