16:15 | 09.03.2010
Penn Virginia Resource Partners, L.P. and Penn Virginia GP Holdings, L.P. Announce William H. Shea, Jr. as Chief Executive Officer
Penn Virginia Resource Partners, L.P. (NYSE: PVR) and Penn Virginia GP
Holdings, L.P. (NYSE: PVG) today announced that William H. Shea, Jr. has
been elected Chief Executive Officer of the general partner of both PVR
and PVG, as well as President of the general partner of PVG, effective
immediately. Mr. Shea will remain a director of Penn Virginia
Corporation (NYSE: PVA), an independent natural gas and oil company and
the owner of the general partner and the largest unit holder of PVG.
A. James Dearlove has resigned these positions to devote more time to
his role as Director, President and Chief Executive Officer of PVA. Mr.
Dearlove will remain Chairman of the general partners of both PVR and
PVG.
Mr. Shea was previously with the general partner of Buckeye Partners,
L.P. (NYSE: BPL), which owns and operates petroleum products pipeline
systems and petroleum products terminals, serving as Chairman from May
2004 to July 2007, Chief Executive Officer and President from September
2000 to July 2007 and President and Chief Operating Officer from July
1998 to September 2000. He was also with the general partner of Buckeye
GP Holdings, L.P. (NYSE: BGH), the owner of the general partner of BPL,
serving as Chairman from August 2006 to July 2007 and Chief Executive
Officer and President from May 2004 to July 2007. Mr. Shea held various
managerial and executive positions during his tenure with Buckeye, which
he joined in 1996. Prior to Buckeye, Mr. Shea worked for Union Pacific
Corporation, UGI Development Company and Laidlaw Environmental Services.
Mr. Dearlove said, “We are pleased to have Bill take the day-to-day
reins as Chief Executive Officer of the general partner of both PVR and
PVG given his similar executive experiences while at Buckeye and that he
has become very familiar with our strategy and business developments
while serving as a director of PVA since mid-2007.”
Headquartered in Radnor, PA, Penn Virginia Resource Partners, L.P.
(NYSE: PVR) is a publicly traded limited partnership formed by PVA.PVR
manages coal and natural resource properties and related assets and
operates a midstream natural gas gathering and processing business.For
more information, please visit PVR’s website at www.pvresource.com.Headquartered in Radnor, PA, Penn Virginia GP Holdings, L.P. (NYSE:
PVG) is a publicly traded limited partnership which owns the general
partner interest, all of the incentive distribution rights and an
approximate 37 percent limited partner interest in PVR.For
more information, please visit PVG’s website at www.pvgpholdings.com.
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