Penn Virginia Corp. downsizes view

For the second time in a month, Radnor natural gas producer Penn Virginia Corp. said it would spend less this year on new projects and produce less as commodity prices continue eroding.

The new projections for capital expenditures are $210 million to $220 million, down from the previous range of $225 million to $250 million.

The company said it expected to produce the equivalent of 48 billion to 50 billion cubic feet of natural gas, down about 6 percent from the previous expected range of 51 billion to 53 billion cubic feet.

The company also said it expected its $479 million credit facility to be reduced by its lenders in the second quarter.    - Harold Brubaker