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PDC Energy Inc (PDCE.OQ)

PDCE.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Pdc Energy Announces 2018 Capital Investment Budget Of $850 To $920 Million
Monday, 11 Dec 2017 04:30pm EST 

Dec 11 (Reuters) - Pdc Energy Inc ::PDC ENERGY ANNOUNCES 2018 CAPITAL INVESTMENT BUDGET OF $850 TO $920 MILLION; 2018 PRODUCTION FORECAST OF 38 TO 42 MILLION BOE AND AN ESTIMATED YEAR-END LEVERAGE RATIO OF 1.6 TIMES.PDC ENERGY INC - FOR FY18 ‍ANTICIPATES CAPITAL INVESTMENT BETWEEN $850 MILLION AND $920 MILLION.PDC ENERGY INC - ANTICIPATE OPERATING IN A CASH FLOW NEUTRAL ENVIRONMENT OVER SECOND HALF OF 2018.PDC ENERGY INC - OIL PRODUCTION TO ACCOUNT FOR APPROXIMATELY 42 PERCENT OF TOTAL PRODUCTION IN 2018.PDC ENERGY INC - PRODUCTION GROWTH OF ABOUT 25 PERCENT TO AN ESTIMATED 38 TO 42 MILLION BARRELS OF OIL EQUIVALENT IN 2018.PDC ENERGY INC - 2018 FORECASTS AND PROJECTIONS INCLUDE ANTICIPATED CLOSING OF WATTENBERG ACQUISITION PRIOR TO YEAR-END 2017.PDC ENERGY INC - IN 2018, COMPANY PLANS TO INVEST APPROXIMATELY $480 MILLION IN WATTENBERG FIELD.PDC ENERGY INC - IN DELAWARE BASIN, COMPANY PLANS TO INVEST APPROXIMATELY $395 MILLION.PDC ENERGY INC - PLANS TO SPUD APPROXIMATELY 153 OPERATED WELLS AND TURN-IN-LINE APPROXIMATELY 161 OPERATED WELLS IN 2018.  Full Article

PDC Eenergy announces pricing of 5.75% senior notes offering
Tuesday, 14 Nov 2017 05:15pm EST 

Nov 14 (Reuters) - Pdc Energy Inc :PDC Energy announces pricing of 5.75% senior notes offering.Priced offering of $600 million aggregate principal amount of 5.75% senior unsecured notes due 2026​.  Full Article

PDC Energy announces proposed private debt offering
Tuesday, 14 Nov 2017 07:41am EST 

Nov 14 (Reuters) - PDC Energy Inc :PDC Energy announces proposed private debt offering.Planning a private offering of $600 million in aggregate principal amount of its senior unsecured notes due 2026​.Intends to use net proceeds from offering to redeem its 7.75% senior notes due 2022​.Also ‍intends to use proceeds from offering to fund purchase of properties of Bayswater Exploration & Production.  Full Article

PDC Energy reaches agreement with regulators to settle lawsuit regarding DJ Basin operations
Tuesday, 31 Oct 2017 01:34pm EDT 

Oct 31 (Reuters) - Pdc Energy Inc ::Says ‍agreement with EPA, DOJ, State of Colorado to improve air emission control systems on certain oil storage tanks in Denver-Julesburg basin​.Says ‍upon court approval, agreement will fully resolve federal court lawsuit filed by DOJ and State against PDC​.Says estimates that investment to enhance its operations at DJ basin will be about $18 million​.Says ‍pursuant to agreement will implement changes to enhance emission management in DJ basin​.Says PDC will pay a $1.5 million civil penalty and provide $1.0 million for state supplemental environmental projects​.Says ‍remainder of investment to enhance operations at DJ basin expected to be incurred through 2022​.  Full Article

PDC Energy consolidates core Wattenberg position through Bolt-on acquisition and strategic acreage trade
Monday, 25 Sep 2017 04:29pm EDT 

Sept 25 (Reuters) - PDC Energy Inc :PDC Energy consolidates core Wattenberg position through Bolt-on acquisition and strategic acreage trade.PDC Energy Inc - ‍to acquire certain assets from Bayswater exploration & production, LLC, and certain related parties, for approximately $210 million in cash​.PDC Energy Inc - anticipates closing this transaction late in q4 of 2017 and funding acquisition with available cash and debt.PDC Energy Inc- co estimates acquisition will add an incremental 240 gross drilling locations.  Full Article

PDC Energy announces entry into the core Delaware basin through acquisition of about 57,000 net acres
Tuesday, 23 Aug 2016 04:06pm EDT 

PDC Energy Inc : PDC Energy announces entry into the core Delaware basin through transformative acquisition of approximately 57,000 net acres . Deal for $1.5 billion . Company intends to fund cash portion of acquisition through potential equity and debt financings prior to closing . Consideration in transaction includes about $915 million of cash and about 9.4 million shares of PDC common stock privately placed to sellers and valued at about $590 million . In remainder of year, company plans to spud approximately nine horizontal wells . Through committed financing from J.P. Morgan, Co secured incremental liquidity, bringing its current liquidity to approximately $1.4 billion . Finishing completion operations on two horizontal wells and plans to operate two drilling rigs by year-end 2016 in Delaware basin . To expand certain midstream infrastructure for an expected total capital outlay of approximately $55 to $65 million for Delaware basin .Agreements to acquire two privately held companies managed by Kimmeridge Energy Management Company.  Full Article

PDC Energy Q2 loss per share $2.04
Tuesday, 9 Aug 2016 08:00am EDT 

Pdc Energy : Reports 2016 Second Quarter Financial And Operating Results Including 54% Production Increase; Raises Full Year 2016 production guidance while reducing full-year capital . Q2 loss per share $2.04 . Q2 earnings per share view $-0.05 -- Thomson Reuters I/B/E/S . Qtrly production of more than 57,100 barrels of oil equivalent ("boe") per day, 54% increase year-over-year . Full-Year capital expenditures reduced to $400 to $420 million from previously guided $410 to $440 million . Plans to reduce wattenberg rig count from four to three in q3 of 2016, expects to be cash flow positive for remainder of year . Increased mid-point of 2016 guidance to 21.5 million barrels of oil equivalent with expected december exit rate in excess of 64,000 boe per day .2016 total revenue excluding unrealized gains and losses is expected to be between $670 million and $700 million.  Full Article

PDC Energy names Scott Meyers as interim principal financial officer
Friday, 8 Jul 2016 04:52pm EDT 

PDC Energy : Assigned to R. Scott Meyers, company's chief accounting officer, duties of principal financial officer of company on an interim basis .Meyers named interim principal financial officer contemporaneously with resignation of Gysle Shellum as CFO - SEC filing.  Full Article

PDC Energy signs acreage deal with Noble Energy
Thursday, 16 Jun 2016 07:00am EDT 

PDC Energy Inc : Company is reviewing potential effects of trade on its 2016 development plans .PDC Energy signs definitive agreements with Noble Energy for strategic acreage trade in the core Wattenberg Field.  Full Article

PDC Energy's revolving credit facility re-affirmed at $700 mln
Monday, 16 May 2016 04:23pm EDT 

Pdc Energy's : Company has elected to keep its commitment level at $450 million . Additionally, company issued 792,406 shares of common stock for premium in excess of conversion price of $42.40 per share .Borrowing base on revolving credit facility re affirmed at $700 million; 3.25% convertible senior notes settled today.  Full Article