George Soros’ Penn Virginia Corp. Files for Bankruptcy

George Soros
George Soros

Although headquartered in Radnor, Pennsylvania (near Philadelphia), Penn Virginia Corporation is an oil and gas driller with only a small presence in the Marcellus Shale: 21,700 net acres with no drilled wells. They concentrate on oil drilling the Texas Eagle Ford Shale play. Penn Virginia is one of the Philly area’s oldest companies, started in 1882 by Philadelphia coal barons. It later transitioned into an oil company. MDN told you in March 2015 that Penn Virginia’s top stockholder, the vile corporate raider George Soros, forced the company to put itself up for sale so George can line his pockets with more cash (see George Soros Finally Bullies Penn Virginia into Selling Itself). We’re happy to report that didn’t work out so well for old George (who reminds us of a dried-out, shriveled up prune). Last week the company, which is now a penny stock trading on the Pink Sheets, filed for bankruptcy…

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