PVR Midstream and Range have agreed to an area of mutual interest (AMI) that covers parts of Lycoming, Tioga and Bradford Counties in north central Pennsylvania, in which Range currently holds a substantial acreage position. Within this AMI, PVR Midstream will construct approximately 16 miles of 24- and 30-inch gathering trunklines, smaller-diameter field gathering lines and compression facilities required to gather Range’s production from the AMI. The gathering system will have over 700 million cubic feet per day (MMcf per day) of throughput capacity, and the initial phase is expected to become operational in the fourth quarter of 2010. The agreement provides Range significant firm gathering capacity in the system, and PVR Midstream will be compensated for the gathering and compression services provided to Range through a combination of volumetric fees, with no direct commodity exposure. Excess capacity on the system and the location within a core area of Marcellus Shale development should allow PVR Midstream to develop additional revenue by providing gathering and compression services to area producers.

PVR Midstream’s total capital investment in this system is anticipated to range from $170 to $200 million and will be expended between 2010 and 2015, with $35 to $40 million planned for 2010. PVR Midstream expects the project to be accretive to distributable cash flow once the system is operational.

Management Comment

William H. Shea, Jr., Chief Executive Officer of PVR, said, “We are pleased to announce this agreement, which establishes PVR Midstream as an important provider of gathering and related services in the growing Marcellus Shale resource play. Also important to PVR is the opportunity to enter into a strategic relationship with Range Resources, a leader in developing the Marcellus Shale. This project will generate fee-based revenue and is expected to be accretive to distributable cash flow by the end of 2010 or early 2011. We expect that this project will provide a platform for future fee-based revenue growth far into the future as the Marcellus Shale play matures.”

Headquartered in Radnor, PA, Penn Virginia Resource Partners, L.P. (NYSE: PVR) is a publicly traded limited partnership formed by Penn Virginia Corporation (NYSE: PVA). PVR manages coal and natural resource properties and related assets and operates a midstream natural gas gathering and processing business. For more information about us, visit our website at www.pvresource.com.

Certain statements contained herein that are not descriptions of historical facts are “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to, the following: the volatility of commodity prices; our ability to access external sources of capital; the projected demand for and supply of natural gas; whether or not the investment will be accretive to distributable cash flow; estimated cash flow prior to financing costs; the extent to which gathering volumes differ from projected levels; the extent to which drilling activity differs from projected levels; competition among natural gas midstream companies; the experience and financial condition of our natural gas midstream customers; operating risks, including unanticipated geological problems, incidental to our natural gas midstream business; our ability to acquire new natural gas midstream assets and new sources of natural gas supply and connections to third-party pipelines on satisfactory terms; our ability to retain existing or acquire new natural gas midstream customers; the occurrence of unusual weather or operating conditions including force majeure events; delays in anticipated start-up dates of new pipelines and facilities in our natural gas midstream business; environmental risks affecting the production and gathering of natural gas; the timing of receipt of necessary governmental permits by us; hedging results; accidents; changes in governmental regulation or enforcement practices, especially with respect to environmental, health and safety matters; risks and uncertainties relating to general domestic and international economic (including inflation, interest rates and financial and credit markets) and political conditions (including the impact of potential terrorist attacks); and other risks set forth in our Annual Report on Form 10-K for the fiscal year ended December 31, 2009.

Additional information concerning these and other factors can be found in our press releases and public periodic filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2009. Many of the factors that will determine our future results are beyond the ability of management to control or predict. Readers should not place undue reliance on forward-looking statements, which reflect management’s views only as of the date hereof. We undertake no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.