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.
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PDC Grows Production in 2015, Focused on Balance Sheet During Downturn
Like many producers have announced in 4Q earnings calls over the last several weeks, balance sheet protection will be the name of the game for PDC Energy Inc. heading into 2016, as the Denver-based exploration and production (E&P) company continues to focus on its goal of cashflow neutrality through hedging and improved well economics.
February 22, 2016
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