Petroleum Development Corporation Amends Its Revolving Bank Loan Agreement

BRIDGEPORT, W.Va., July 22 /PRNewswire-FirstCall/ -- Petroleum Development
Corporation (Nasdaq: PETD) today announced it has entered into a third
amendment of its revolving bank loan agreement. The amendment increases the
Company's borrowing base, adds additional lenders, and amends certain other
provisions. The bank commitment was increased by $65.9 million to $300
million.
Richard W. McCullough, President and CEO, noted, "This amendment gives us
additional capacity to fund our aggressive development program and increased
flexibility to pursue growth opportunities."
About Petroleum Development Corporation
Petroleum Development Corporation (www.petd.com) is an independent energy
company engaged in the exploration, production and marketing of natural gas
and oil. Its operations are focused in the Rocky Mountains with additional
operations in the Appalachian and Michigan Basins. PDC is included in the S&P
SmallCap 600 Index. Additionally, PDC was added to the Russell 3000 Index of
Companies in 2003.
SOURCE Petroleum Development Corporation

Celesta Miracle of Petroleum Development Corporation, +1-304-842-3597