Pdc

Denver-based independent PDC Energy Inc. has secured approval for its Kenosha Oil and Gas Development Plan (OGDP) in rural Weld County, CO. The OGDP entails 69 wells on three pads, management said. The approval by the Colorado Oil and Gas Commission “marks an important next step as PDC further increases its permitted inventory by another…

Denver-based PDC Energy Inc. earlier this month closed on its $1.3 billion acquisition of crosstown independent Great Western Petroleum LLC and is forecasting production growth of as much as 23% by the end of June “We’re ready to start this integration,” CEO Bart Brookman told analysts during the earnings call for the first quarter. PDC…

PDC Energy Inc. has revised down its full-year 2021 oil production guidance, citing “tighter than optimal well spacing” in its Permian Basin leasehold. Oil production is now expected to average 60,000-63,000 b/d, versus previous guidance of 64,000-66,000 b/d, the Denver-based independent said in a recent update. PDC operates primarily in the Wattenberg field in Colorado’s…

Changes to the way oil and natural gas drilling is permitted in Colorado may lead to “significant delays” in permitting and other necessary approvals for developing the Wattenberg field in the Denver-Julesburg (DJ) Basin, according to PDC Energy Inc. management.

PDC Energy Inc. said Monday it would acquire Colorado pure-play SRC Energy Inc. in an all-stock deal valued at $1.7 billion that would create the Denver-Julesburg (DJ) Basin’s second largest oil and gas producer.

PDC Energy Inc. has reached agreements to sell a substantial portion of its midstream assets in the Permian Basin for about $310 million in separate transactions expected to close in the coming months.

Private equity firm Kimmeridge Energy Management Co. LLC on Tuesday continued with its quest to sap more value from onshore explorer PDC Energy Inc. by filing preliminary proxy materials with the Securities and Exchange Commission that include its picks for the board of directors.

PDC Energy Inc. is the latest U.S. exploration and production (E&P) company to come under attack by an activist investor, after Kimmeridge Energy Management Co. LLC announced last week that it has acquired more than 5% of the stock and wants it to generate more value for shareholders.

Denver-based PDC Energy Inc. is joining the parade entering the Permian Basin, announcing Tuesday it would pay $1.5 billion to acquire two privately held operators that together would give it about 57,000 net acres in the Delaware sub-basin of West Texas.