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PDC Energy, Inc.

Company Summary

Description

PDC Energy is an exploration and production company headquartered in Denver, Colorado focused on value-added organic growth through active horizontal drilling programs. PDC's operations include production, development, exploration and marketing of crude oil, natural gas and natural gas liquids (“NGLs”). PDC’s portfolio is comprised of two areas: the Wattenberg Field in Colorado and the Utica Shale in Ohio. The Company’s total 2015 net production increased approximately 65% year-over-year to 15.4 MMBoe, which was derived primarily from the Wattenberg Field, and consisted of 64% crude oil and NGLs, and 36% natural gas.

Website

http://www.pdce.com/

Operational Regions

  • Wattenberg Field
  • Utica
  • Delaware Basin

Financial Data:

NASDAQ:PDCE from Google Finance

Tickers:

  • PDCE - NASDAQ

Related Entities

Recent news

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  • 8/7/2023 - Chevron Completes... (subscriber access)
  • 8/4/2023 - Chevron Initiates... (subscriber access)
  • 5/22/2023 - Chevron Acquiring PDC... (subscriber access)
  • 11/21/2022 - PDC Energy Reports 3Q22... (subscriber access)

Investor Presentations

  • 4Q19 Investor Presentation
  • 3Q19 Investor Presentation (subscriber access)
  • 2Q19 Investor Presentation (subscriber access)
  • 1Q19 Earnings Presentation (subscriber access)
  • 4Q18 Investor Presentation (subscriber access)
  • 3Q18 Investor Presentation (subscriber access)
  • 2Q18 Investor Presentation (subscriber access)
  • 2018 First Quarter Results (subscriber access)
  • April Company Update (subscriber access)
  • March Company Update (subscriber access)
  • Fourth Quarter 2017 Earnings Presentation (subscriber access)
  • 3Q17 Earnings Presentation (subscriber access)
  • 2Q17 Investor Presentation (subscriber access)
  • 2017 Analyst Day Presentation (subscriber access)
  • 4Q16 Earnings Presentation (subscriber access)
  • Capital One Securities Conference - December 2016 (subscriber access)
  • Enercom Presentation - August 2016 (subscriber access)
  • March 2016 Weil Energy Conference (subscriber access)

Company Transactions

Date: 5/15/2022
Type: Acquisition

DETAILS:

COST: 1.3 $B

VOLUMES: 55 MBOE/d

NOTES:
PDC Energy has signed a deal to acquire Great Western Petroleum in the DJ Basin for $1.3 billion from EIG, TPG Energy Solutions, L.P. and The Broe Group. They will finance the deal via the issuance of 4.0 million shares of common stock and $543 million in cash. Closing is targeted for the second quarter of 2022.
REGIONS:
  • DJ Basin
  • Date: 12/30/2019
    Type: Acquisition

    SELLERS:
  • SRC Energy Inc.
  • DETAILS:

    COST: 1.7 $B

    VOLUMES: 60.8 MBOE/d

    ACRES: 86000 Acres

    REGIONS:
  • Wattenberg Field
  • Date: 6/30/2019
    Type: Acquisition

    SELLERS:
  • PDC Energy, Inc.
  • DETAILS:

    COST: 182 $MM

    NOTES:
    The gas assets will be sold to EagleClaw Midstream for $182 million, including a $100 million payment upon closing and an $82 million payment within a year of closing. The deal also includes long-term flow assurance on EagleClaw assets. The water assets are being purchased by WaterBridge Resources for $125 million.
    REGIONS:
  • Delaware Basin
  • Date: 6/30/2019
    Type: Acquisition

    SELLERS:
  • PDC Energy, Inc.
  • DETAILS:

    COST: 125 $MM

    NOTES:
    PDC's water assets are being purchased by WaterBridge Resources for $125 million.
    REGIONS:
  • Delaware Basin
  • Date: 3/31/2018
    Type: Acquisition

    SELLERS:
  • PDC Energy, Inc.
  • DETAILS:

    COST: 40 $MM

    VOLUMES: 1.88 MBOE/d

    REGIONS:
  • Utica
  • Date: 11/15/2017
    Type: Acquisition

    DETAILS:

    COST: 210 $MM

    VOLUMES: 2.2 MBOE/d

    ACRES: 8300 Acres

    REGIONS:
  • Wattenberg Field
  • Date: 11/15/2017
    Type: Acquisition

    DETAILS:

    ACRES: 12100 Acres

    NOTES:
    PDC Energy reported that it has entered into an agreement to swap acreage in the Plains Area of the Wattenberg Formation. The deal consists of the exchange of 11,700 net acres for 12,100 net acres, not including production wellbores or existing facilities on those positions.
    REGIONS:
  • Wattenberg Field
  • Date: 12/30/2016
    Type: Acquisition

    DETAILS:

    COST: 118 $MM

    VOLUMES: 300 BOE/d

    ACRES: 4500 Acres

    NOTES:
    The acquired assets include 4,500 net acres with current net production of 300 boe/d, a DUC well and a salt water disposal well.
    REGIONS:
  • Delaware Basin
  • Date: 12/6/2016
    Type: Acquisition

    DETAILS:

    COST: 1500 $MM

    VOLUMES: 7.5 MBOE/d

    ACRES: 57000 Acres

    NOTES:
    Included in the acquisition were 57,000 net acres in Reeves and Culberson Counties, Texas, 7.5 Mboe/d of production from 25 horizontal wells, 50-miles of gathering lines, 30-miles of water disposal lines and five salt water disposal wells.
    REGIONS:
  • Delaware Basin