Pdc Energy Inc.  (PDCE)
Other Ticker:  
    Sector  Energy    Industry Oil And Gas Production
   Industry Oil And Gas Production
   Sector  Energy
Price: $52.2000 $0.01 0.019%
Day's High: $53.93 Week Perf: -14.55 %
Day's Low: $ 51.90 30 Day Perf: -22.46 %
Volume (M): 924 52 Wk High: $ 89.22
Volume (M$): $ 48,238 52 Wk Avg: $61.60
Open: $52.83 52 Wk Low: $43.22

 Market Capitalization (Millions $) 5,128
 Shares Outstanding (Millions) 98
 Employees 395
 Revenues (TTM) (Millions $) 2,796
 Net Income (TTM) (Millions $) 1,249
 Cash Flow (TTM) (Millions $) -63
 Capital Exp. (TTM) (Millions $) 1,946

Pdc Energy Inc.

We are a domestic independent exploration and production company that acquires, produces, develops, and explores for crude oil, natural gas, and NGLs. Our operations are located in the Wattenberg Field in Colorado; the Utica Shale in southeastern Ohio; and, with the closing of our $1.76 billion acquisitions of proved producing, proved undeveloped, and unproved leaseholds in December 2016, in the Delaware Basin in Texas

we own an interest in approximately 2,900 gross (2,400 net) productive wells, of which approximately 25 percent are horizontal. We operate 88 percent of the wells in which we have an interest. We produced 22.2 MMBoe in 2016, including 0.2 MMBoe contributed from the newly acquired Delaware Basin assets, representing an increase of 44 percent compared to 2015. For the month ended December 31, 2016, we maintained an average production rate of 73 MBoe per day. This exit rate represents a 42 percent increase from December 2015. We were able to achieve this strong growth rate while maintaining a robust liquidity position, comprised of cash and cash equivalents and available capacity under our revolving credit facility totaling $932.4 million as of December 31, 2016. Our debt to EBITDAX ratio as of December 31, 2016, as defined in our revolving credit facility agreement, was 2.10 to 1.00, well within our compliance limit of 4.00 to 1.00.

Multi-year project inventory in premier crude oil, natural gas, and NGLs plays. We have a significant operational presence in two premier U.S. onshore basins providing us with approximately 2,600 potential horizontal drilling locations from our total proved and unproved leasehold. The primary focus for development is currently in the Wattenberg Field and the Delaware Basin. We believe that our inventory of drilling locations, the majority of which reflect 4,000 to 10,000 foot horizontal laterals, will allow us to continue to grow our proved reserves and production at attractive rates of return utilizing our current internal long-term commodity price projections and our current expected cost structure. Our 2017 drilling and completion operations are expected to specifically focus on the middle core of the Wattenberg Field and our newly acquired Delaware Basin assets. In the Wattenberg Field, we have identified a substantial inventory consisting of approximately 700 proved undeveloped horizontal drilling locations and an additional approximately 1,100 probable horizontal drilling locations. Through our acquisitions in the Delaware Basin, we added approximately 20 proved undeveloped horizontal drilling locations, which were included in the 785 gross potential drilling locations that were identified on our 62,500 net acres of leasehold. At the time of the initial acquisition, our undeveloped location count was based on wells expected to be drilled with horizontal lateral lengths ranging from 4,000 to 10,000 horizontal feet. We believe that with additional development and exploration activity, together with advances in technology, we may be able to access additional productive zones in the Delaware Basin, which could significantly increase our inventory of undeveloped locations.

Strong liquidity position. As of December 31, 2016, we had a total liquidity position of $932.4 million, comprised of $244.1 million of cash and cash equivalents and $688.3 million available for borrowing under our revolving credit facility. During 2016, we raised in excess of $1.4 billion of new capital, net of issuance costs.

Our long-term business strategy focuses on generating stockholder value through the acquisition, exploration, and development of crude oil and natural gas properties. We are focused on the growth of our reserves, production, and cash flows through organic exploration and development of our existing and acquired leasehold in our horizontal drilling programs. Our operational focus is concentrated with a substantial presence in two basins. We pursue various midstream, marketing, and cost reduction initiatives designed to increase our per unit operating margins while maintaining a disciplined financial strategy focused on providing sufficient liquidity and balance sheet strength to execute our business strategy.

We focus on horizontal development drilling programs in resource plays that offer repeatable results and the potential for attractive returns on investment in a range of commodity price environments. Our inventory of drilling locations supports our planned organic growth over the next several years. We expect our drilling and completion activity to drive increases in proved reserves, production, and cash flows. In addition to development drilling, we routinely review acquisition and acreage swap opportunities in our core areas of operations. We believe we can extract additional value from such transactions through production optimization opportunities and increases in our working interests in our development drilling locations afforded by more concentrated acreage positions. As a result, once we have established a significant presence in an area, the use of bolt-on acquisitions and acreage trades can potentially provide synergies that result in additional economies of scale. We also pursue a limited and disciplined exploration program with the goal of replenishing our portfolio with new exploration projects capable of positioning us for significant production and reserve growth in future years.

   Company Address: 1775 Sherman Street, Denver 80203 CO
   Company Phone Number: 860-5800   Stock Exchange / Ticker: NASDAQ PDCE
   PDCE is expected to report next financial results on November 02, 2022.

Customers Net Income fell by PDCE's Customers Net Profit Margin fell to

-71.87 %

2.56 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


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