Ranger Oil history

Stonega Coke & Coal Co. was formed in 1902 to serve as VC&I's operational arm and in that same year the company opened its first mines and coke ovens.

Also in 1929 Westmoreland's president died and the management of that concern was turned over to Stonega.

Penn Virginia gained $54.7 million when it sold an interest in Norfolk Southern Company, a small railroad, the stock of which it had picked up in 1963.

In 1967 it formed Wheelwright Corp. to produce fly ash aggregate used in making concrete.

In 1973 Viall-Ohio Fly Ash Co. was acquired to supplement these operations.

Then, in 1980 Penn Virginia paid $10 million for Merrick Scale Manufacturing, a New Jersey maker of dynamic weighing and material handling technology.

In 1994 CD&G Development Corp. was acquired.

Natural gas properties in southern West Virginia were bought from United Meridian Corp. in 1995.

In July 1997 Penn Virginia engineered a two-for-one stock split, increasing the number of available shares in preparation for joining the New York Stock Exchange two months later.

Lowe, Benjamin Y., "Corporate Raider Acquires 7.6 Percent of Radnor, Pa., Oil, Gas, Coal Firm," Philadelphia Inquirer, March 7, 2001.

More acquisitions followed in 2003, including the addition of natural gas and oil reserves in south Texas, Mississippi, and Kansas.

Penn Virginia was well positioned to benefit from record energy prices, as revenues ballooned to $673.9 million in 2005 and net income almost doubled to $62.1 million.