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(Image courtesy of Penn Virginia)

Penn Virginia Corporation announced that it has agreed to sell its Mississippi assets to an undisclosed buyer for $72.7 million in cash.

The effective date of the sale is April 1, 2014, with an expected formal closing in July.

The properties produced around 11.9 million cubic feet of natural gas equivalent per day during the first quarter of 2014, with nearly 100 percent of this production being natural gas.