PDC Energy Inc. has gained approval by Colorado regulators for a 30-well oil and natural gas development program in Weld County.

pdc rig

The Colorado Oil and Gas Conservation Commission (COGCC) approved the Broe Oil and Gas Development Plan (OGDP), PDC said Wednesday.

The Denver-based producer acquired the Broe OGDP in Weld County during May, when it acquired Great Western Petroleum LLC. The COGCC approval marks PDC’s first permit on Great Western acreage.

“Broe is the second PDC OGDP to receive unanimous approval this month, and third approval within the last 12 months,” said PDC’s David Lillo, operations senior vice president. “Our integration of the Great Western assets continues to go well as is evident from this approval.”

The Broe plan, coupled with COGCC’s approval of the Kenosha OGDP earlier in June, translates into a 99-well inventory gain for the month, said PDC. The company told NGI that it would soon hold 505 permits and 181 drilled but uncompleted (DUC) wells.

“We look forward to continuing this track record with our Guanella Comprehensive Area Plan and future OGDPs,” said Lillo.

On an operational basis, the new permits augment “an already established multi-year inventory” of Denver-Julesburg (DJ) Basin projects, Lillo said.  That gives PDC “good visibility well into 2024 at current activity levels.

COGCC Chair Jeff Robbins praised PDC’s Broe plan during the permit approval hearing.

“As with the Kenosha application that we recently reviewed, I think this is an excellent example of protective permitting under Colorado’s Oil and Gas Development rules,” he said.

Colorado implemented broad changes to its oil and gas regulatory system last year.

PDC in May projected 235,000-245,000 boe/d average production across its assets, which span the DJ and the Permian Basin’s Delaware sub-basin, for the second quarter of 2022.