0001193125-17-043474.txt : 20170214 0001193125-17-043474.hdr.sgml : 20170214 20170214162828 ACCESSION NUMBER: 0001193125-17-043474 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20170214 DATE AS OF CHANGE: 20170214 GROUP MEMBERS: EIG ASSET MANAGEMENT, LLC GROUP MEMBERS: EIG GLOBAL ENERGY PARTNERS, LLC GROUP MEMBERS: KRISTINA WADE 2010 IRREVOCABLE TRUST GROUP MEMBERS: R. BLAIR THOMAS GROUP MEMBERS: R. BLAIR THOMAS 2010 IRREVOCABLE TRUST GROUP MEMBERS: RANDALL S. WADE GROUP MEMBERS: RANDALL WADE 2010 IRREVOCABLE TRUST GROUP MEMBERS: RAPTOR ENERGY GP, LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PENN VIRGINIA CORP CENTRAL INDEX KEY: 0000077159 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 231184320 STATE OF INCORPORATION: VA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-13693 FILM NUMBER: 17609431 BUSINESS ADDRESS: STREET 1: 14701 ST. MARY'S LANE STREET 2: SUITE 275 CITY: HOUSTON STATE: TX ZIP: 77079 BUSINESS PHONE: 7137226500 MAIL ADDRESS: STREET 1: 14701 ST. MARY'S LANE STREET 2: SUITE 275 CITY: HOUSTON STATE: TX ZIP: 77079 FORMER COMPANY: FORMER CONFORMED NAME: VIRGINIA COAL & IRON CO DATE OF NAME CHANGE: 19670501 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: EIG Management Company, LLC CENTRAL INDEX KEY: 0001616372 IRS NUMBER: 000000000 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 1700 PENNSYLVANIA AVE, N.W. STREET 2: SUITE 800 CITY: WASHINGTON D.C. STATE: DC ZIP: 20006 BUSINESS PHONE: 202 600-3300 MAIL ADDRESS: STREET 1: 1700 PENNSYLVANIA AVE, N.W. STREET 2: SUITE 800 CITY: WASHINGTON D.C. STATE: DC ZIP: 20006 SC 13G/A 1 d327649dsc13ga.htm SC 13G/A SC 13G/A

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. 1)*

 

 

PENN VIRGINIA CORPORATION

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

70788V300 and 70788V102

(CUSIP Number)

December 31, 2016

(Date of Event which Requires Filing of this Statement)

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☒ Rule 13d-1(b)

☐ Rule 13d-1(c)

☐ Rule 13d-1(d)

 

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

Continued on following pages

Page 1 of 18 Pages

Exhibit Index: Page 16

SCHEDULE 13G

 

CUSIP No. 70788V300 and 70788V102   Page 2 of 18 Pages

 

  1.   

Names of Reporting Persons.

 

EIG Management Company, LLC

  2.  

Check the Appropriate Box if a Member of a Group

(a)  ☐        (b)  ☒

 

  3.  

SEC Use Only

 

  4.  

Citizenship or Place of Organization

 

    Delaware

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

    5.    

Sole Voting Power

 

    0

   6.   

Shared Voting Power

 

    1,249,435

   7.   

Sole Dispositive Power

 

    0

   8.   

Shared Dispositive Power

 

    1,249,435

  9.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

    1,249,435

10.  

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)    ☐

 

11.  

Percent of Class Represented by Amount in Row (9)

 

    8.3%

12.  

Type of Reporting Person:

 

    OO, IA

 

SCHEDULE 13G

 

CUSIP No. 70788V300 and 70788V102   Page 3 of 18 Pages

 

  1.   

Names of Reporting Persons.

 

Raptor Energy GP, LLC

  2.  

Check the Appropriate Box if a Member of a Group

(a)  ☐        (b)  ☒

 

  3.  

SEC Use Only

 

  4.  

Citizenship or Place of Organization

 

    Delaware

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

    5.    

Sole Voting Power

 

    0

   6.   

Shared Voting Power

 

    1,249,435

   7.   

Sole Dispositive Power

 

    0

   8.   

Shared Dispositive Power

 

    1,249,435

  9.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

    1,249,435

10.  

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)    ☐

 

11.  

Percent of Class Represented by Amount in Row (9)

 

    8.3%

12.  

Type of Reporting Person:

 

    OO, HC

 

SCHEDULE 13G

 

CUSIP No. 70788V300 and 70788V102   Page 4 of 18 Pages

 

  1.   

Names of Reporting Persons.

 

EIG Asset Management, LLC

  2.  

Check the Appropriate Box if a Member of a Group

(a)  ☐        (b)  ☒

 

  3.  

SEC Use Only

 

  4.  

Citizenship or Place of Organization

 

    Delaware

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

    5.    

Sole Voting Power

 

    0

   6.   

Shared Voting Power

 

    1,249,435

   7.   

Sole Dispositive Power

 

    0

   8.   

Shared Dispositive Power

 

    1,249,435

  9.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

    1,249,435

10.  

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)    ☐

 

11.  

Percent of Class Represented by Amount in Row (9)

 

    8.3%

12.  

Type of Reporting Person:

 

    OO, HC

 

SCHEDULE 13G

 

CUSIP No. 70788V300 and 70788V102   Page 5 of 18 Pages

 

  1.   

Names of Reporting Persons.

 

EIG Global Energy Partners, LLC

  2.  

Check the Appropriate Box if a Member of a Group

(a)  ☐        (b)  ☒

 

  3.  

SEC Use Only

 

  4.  

Citizenship or Place of Organization

 

    Delaware

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

    5.    

Sole Voting Power

 

    0

   6.   

Shared Voting Power

 

    1,249,435

   7.   

Sole Dispositive Power

 

    0

   8.   

Shared Dispositive Power

 

    1,249,435

  9.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

    1,249,435

10.  

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)    ☐

 

11.  

Percent of Class Represented by Amount in Row (9)

 

    8.3%

12.  

Type of Reporting Person:

 

    OO, HC

 

SCHEDULE 13G

 

CUSIP No. 70788V300 and 70788V102   Page 6 of 18 Pages

 

  1.   

Names of Reporting Persons.

 

The R. Blair Thomas 2010 Irrevocable Trust

  2.  

Check the Appropriate Box if a Member of a Group

(a)  ☐        (b)  ☒

 

  3.  

SEC Use Only

 

  4.  

Citizenship or Place of Organization

 

    Virginia

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

    5.    

Sole Voting Power

 

    0

   6.   

Shared Voting Power

 

    1,249,435

   7.   

Sole Dispositive Power

 

    0

   8.   

Shared Dispositive Power

 

    1,249,435

  9.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

    1,249,435

10.  

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)    ☐

 

11.  

Percent of Class Represented by Amount in Row (9)

 

    8.3%

12.  

Type of Reporting Person:

 

    OO, HC

 

SCHEDULE 13G

CUSIP No. 70788V300 and 70788V102    Page 7 of 18 Pages

 

  1.   

Names of Reporting Persons.

 

R. Blair Thomas

  2.  

Check the Appropriate Box if a Member of a Group

(a)  ☐        (b)  ☒

 

  3.  

SEC Use Only

 

  4.  

Citizenship or Place of Organization

 

    United States

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

    5.    

Sole Voting Power

 

    0

   6.   

Shared Voting Power

 

      1,249,435

   7.   

Sole Dispositive Power

 

    0

   8.   

Shared Dispositive Power

 

    1,249,435

  9.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

    1,249,435

10.  

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)    ☐

 

11.  

Percent of Class Represented by Amount in Row (9)

 

    8.3%

12.  

Type of Reporting Person:

 

    IN, HC

SCHEDULE 13G

CUSIP No. 70788V300 and 70788V102    Page 8 of 18 Pages

 

  1.   

Names of Reporting Persons.

 

The Randall Wade 2010 Irrevocable Trust

  2.  

Check the Appropriate Box if a Member of a Group

(a)  ☐        (b)  ☒

 

  3.  

SEC Use Only

 

  4.  

Citizenship or Place of Organization

 

    Texas

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

    5.    

Sole Voting Power

 

    0

   6.   

Shared Voting Power

 

    1,249,435

   7.   

Sole Dispositive Power

 

    0

   8.   

Shared Dispositive Power

 

    1,249,435

  9.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

    1,249,435

10.  

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)    ☐

 

11.  

Percent of Class Represented by Amount in Row (9)

 

    8.3%

12.  

Type of Reporting Person:

 

    OO, HC

SCHEDULE 13G

CUSIP No. 70788V300 and 70788V102    Page 9 of 18 Pages

 

  1.   

Names of Reporting Persons.

 

The Kristina Wade 2010 Irrevocable Trust

  2.  

Check the Appropriate Box if a Member of a Group

(a)  ☐        (b)  ☒

 

  3.  

SEC Use Only

 

  4.  

Citizenship or Place of Organization

 

    Texas

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

    5.    

Sole Voting Power

 

    0

   6.   

Shared Voting Power

 

    1,249,435

   7.   

Sole Dispositive Power

 

    0

   8.   

Shared Dispositive Power

 

    1,249,435

  9.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

    1,249,435

10.  

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)    ☐

 

11.  

Percent of Class Represented by Amount in Row (9)

 

    8.3%

12.  

Type of Reporting Person:

 

    OO, HC

SCHEDULE 13G

CUSIP No. 70788V300 and 70788V102    Page 10 of 18 Pages

 

  1.   

Names of Reporting Persons.

 

Randall S. Wade

  2.  

Check the Appropriate Box if a Member of a Group

(a)  ☐        (b)  ☒

 

  3.  

SEC Use Only

 

  4.  

Citizenship or Place of Organization

 

    United States

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

    5.    

Sole Voting Power

 

    0

   6.   

Shared Voting Power

 

    1,249,435

   7.   

Sole Dispositive Power

 

    0

   8.   

Shared Dispositive Power

 

    1,249,435

  9.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

    1,249,435

10.  

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)    ☐

 

11.  

Percent of Class Represented by Amount in Row (9)

 

    8.3%

12.  

Type of Reporting Person:

 

    IN, HC

SCHEDULE 13G

   Page 11 of 18 Pages

 

Item 1(a). Name of Issuer:

Penn Virginia Corporation (the “Issuer”)

 

Item 1(b). Address of Issuer’s Principal Executive Offices:

14701 St. Mary’s Lane, Suite 275, Houston, TX 77079

 

Item 2(a). Name of Person Filing:

This Statement is filed on behalf of each of the following persons (collectively, the “Reporting Persons”):

 

  i) EIG Management Company, LLC (“EIG Management”);

 

  ii) Raptor Energy GP, LLC (“Raptor GP”);

 

  iii) EIG Asset Management, LLC (“Asset Management”);

 

  iv) EIG Global Energy Partners, LLC (“Energy Partners”);

 

  v) The R. Blair Thomas 2010 Irrevocable Trust (“Thomas Trust”);

 

  vi) R. Blair Thomas (“Mr. Thomas”)

 

  vii) The Randall Wade 2010 Irrevocable Trust (“Randall Wade Trust”);

 

  viii) The Kristina Wade 2010 Irrevocable Trust (“Kristina Wade Trust”); and

 

  ix) Randall S. Wade (“Mr. Wade”).

This statement relates to Shares (as defined herein) held by (i) a managed account of EIG Management (the “Managed Account”), and (ii) an unaffiliated offshore fund (the “Third-Party Fund”). Raptor GP is the general partner of the Managed Account. Asset Management is the sole member of Raptor GP and EIG Management. Energy Partners owns a majority of, and is the manager of, Asset Management, and in such capacity controls the activities of Asset Management. Thomas Trust, Randall Wade Trust and Kristina Wade Trust are each a member of Energy Partners and in such capacity each control the activities of Energy Partners. Mr. Thomas is the sole trustee of the Thomas Trust and in such capacity controls the activities of the Thomas Trust. Mr. Thomas also serves as the Chief Executive Officer of Energy Partners. Mr. Wade is a trustee of the Randall Wade Trust and the Kristina Wade Trust and in such capacity controls the activities of the Randall Wade Trust and the Kristina Wade Trust. Mr. Wade also serves as the Chief Operating Officer of Energy Partners. None of the Managed Account, Raptor GP or EIG Management, or any of their respective affiliates, exercises voting or investment power over the Shares held by the Third-Party Fund.

The Reporting Persons disclaim beneficial ownership of any Shares held by the Third-Party Fund, and the filing of this Statement shall not be construed as an admission that the Reporting Persons are, for the purposes of sections 13(d) or 13(g) of the Act, or for any other purpose, the beneficial owner of any securities held by the Third-Party Fund. The Reporting Persons also disclaim being a member of a “group,” as such term is defined in Rule 13d-5(b) under the Act, with the Third-Party Fund or any of its affiliates.

 

Item 2(b). Address of Principal Business Office or, if None, Residence:

The address of the principal business office of each of the Reporting Persons is 1700 Pennsylvania Ave. NW, Suite 800, Washington, D.C. 20006.

SCHEDULE 13G

   Page 12 of 18 Pages

 

Item 2(c). Citizenship:

 

  i) EIG Management is a Delaware limited liability company;

 

  ii) Raptor GP is a Delaware limited liability company;

 

  iii) Asset Management is a Delaware limited liability company;

 

  iv) Energy Partners is a Delaware limited liability company;

 

  v) Thomas Trust is a trust established in Virginia;

 

  vi) Mr. Thomas is a citizen of the United States;

 

  vii) Randall Wade Trust is a trust established in Texas;

 

  viii) Kristina Wade Trust is a trust established in Texas; and

 

  ix) Mr. Wade is a citizen of the United States.

 

Item 2(d). Title of Class of Securities:

Common Stock, par value $0.01 per share (“Shares”).

 

Item 2(e). CUSIP Number:

70788V300 and 70788V102

 

Item 3. If This Statement is Filed Pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), Check Whether the Person Filing is a:

(e) ☒ An investment adviser in accordance with §240.13d-(b)(1)(ii)(E).

(g) ☒ A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G).

 

Item 4. Ownership:

 

Item 4(a) Amount Beneficially Owned

As of December 31, 2016, each of the Reporting Persons may be deemed the beneficial owner of 1,249,435 Shares, which amount includes: (A) 631,994 Shares held for the account of the Managed Account; and (B) 617,441 Shares held for the account of the Third-Party Fund. Each of the Reporting Persons disclaims beneficial ownership of any Shares held by the Third-Party Fund.

 

Item 4(b) Percent of Class:

As of December 31, 2016, each of the Reporting Persons may be deemed the beneficial owner of approximately 8.3% of Shares outstanding. (There were 14,992,018 Shares outstanding as of November 14, 2016, according to the Issuer’s quarterly report on Form 10-Q, filed November 14, 2016.)

 

Item 4(c) Number of Shares of which such person has:

 

Reporting Persons:

  

(i) Sole power to vote or to direct the vote:

      0   

(ii) Shared power to vote or to direct the vote:

      1,249,435   

(iii) Sole power to dispose or to direct the disposition of:

      0   

(iv) Shared power to dispose or to direct the disposition of:

      1,249,435   

SCHEDULE 13G

   Page 13 of 18 Pages

 

Item 5. Ownership of Five Percent or Less of a Class:

This Item 5 is not applicable.

 

Item 6. Ownership of More than Five Percent on Behalf of Another Person:

See disclosure in Items 2 and 4 hereof. Each of the Managed Account and the Third-Party Fund has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, more than 5 percent of the class of Shares covered by this Statement.

 

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person:

See disclosure in Item 2 hereof.

 

Item 8. Identification and Classification of Members of the Group:

This Item 8 is not applicable.

 

Item 9. Notice of Dissolution of Group:

This Item 9 is not applicable.

 

Item 10. Certification:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

EIG Management Company, LLC
By:  

/s/ Randall S. Wade

Name:   Randall S. Wade
Title:   Chief Operating Officer
By:  

/s/ Robert L. Vitale

Name:   Robert L. Vitale
Title:   General Counsel
Raptor Energy GP, LLC
By:   EIG Asset Management, LLC,
  its sole member
By:  

/s/ Randall S. Wade

Name:   Randall S. Wade
Title:   Chief Operating Officer
By:  

/s/ Robert L. Vitale

Name:   Robert L. Vitale
Title:   General Counsel
EIG Asset Management, LLC
By:  

/s/ Randall S. Wade

Name:   Randall S. Wade
Title:   Chief Operating Officer
By:  

/s/ Robert L. Vitale

Name:   Robert L. Vitale
Title:   General Counsel
EIG Global Energy Partners, LLC
By:  

/s/ Randall S. Wade

Name:   Randall S. Wade
Title:   Chief Operating Officer
By:  

/s/ Robert L. Vitale

Name:   Robert L. Vitale
Title:   General Counsel

 

Page 14 of 18 Pages

The R. Blair Thomas 2010 Irrevocable Trust
By:  

/s/ R. Blair Thomas

Name:   R. Blair Thomas
Title:   Trustee
R. Blair Thomas

/s/ R. Blair Thomas

The Randall Wade 2010 Irrevocable Trust
By:  

/s/ Randall S. Wade

Name:   Randall S. Wade
Title:   Trustee
The Kristina Wade 2010 Irrevocable Trust
By:  

/s/ Randall S. Wade

Name:   Randall S. Wade
Title:   Trustee
Randall S. Wade

/s/ Randall S. Wade

November 14, 2017

 

Page 15 of 18 Pages

EXHIBIT INDEX

 

Ex.

         Page No.  
A    Joint Filing Agreement      17   

 

Page 16 of 18 Pages

EX-99.A 2 d327649dex99a.htm EX-A EX-A

EXHIBIT A

JOINT FILING AGREEMENT

The undersigned agree that the statement on Schedule 13G with respect to the Common Stock of Penn Virginia Corporation, dated as of November 14, 2017, is, and any amendments thereto (including amendments on Schedule 13D) signed by each of the undersigned shall be, filed on behalf of each of them pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended.

 

EIG Management Company, LLC
By:  

/s/ Randall S. Wade

Name:   Randall S. Wade
Title:   Chief Operating Officer
By:  

/s/ Robert L. Vitale

Name:   Robert L. Vitale
Title:   General Counsel
Raptor Energy GP, LLC
By:   EIG Asset Management, LLC,
  its sole member
By:  

/s/ Randall S. Wade

Name:   Randall S. Wade
Title:   Chief Operating Officer
By:  

/s/ Robert L. Vitale

Name:   Robert L. Vitale
Title:   General Counsel
EIG Asset Management, LLC
By:  

/s/ Randall S. Wade

Name:   Randall S. Wade
Title:   Chief Operating Officer
By:  

/s/ Robert L. Vitale

Name:   Robert L. Vitale
Title:   General Counsel

 

Page 17 of 18 Pages

EIG Global Energy Partners, LLC
By:  

/s/ Randall S. Wade

Name:   Randall S. Wade
Title:   Chief Operating Officer
By:  

/s/ Robert L. Vitale

Name:   Robert L. Vitale
Title:   General Counsel
The R. Blair Thomas 2010 Irrevocable Trust
By:  

/s/ R. Blair Thomas

Name:   R. Blair Thomas
Title:   Trustee
R. Blair Thomas

/s/ R. Blair Thomas

The Randall Wade 2010 Irrevocable Trust
By:  

/s/ Randall S. Wade

Name:   Randall S. Wade
Title:   Trustee
The Kristina Wade 2010 Irrevocable Trust
By:  

/s/ Randall S. Wade

Name:   Randall S. Wade
Title:   Trustee
Randall S. Wade

/s/ Randall S. Wade

November 14, 2017

 

Page 18 of 18 Pages