Penn Virginia successful in Texas test well

Penn Virginia Corp., a Radnor energy company, said its first horizontal test well in a particular kind of shale in eastern Texas was successful.

The well's initial production rate was eight million cubic feet of natural gas a day.

The company said it expected the well, with a depth of 11,378 feet, to produce 10 million to 15 million cubic feet of gas per day starting in July, when more pipeline capacity becomes available.