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PDC Energy, Inc. (PDCE) is a dynamic company listed on NASDAQ, dedicated to achieving organic growth from its rich portfolio through horizontal drilling. With a strategic focus on increasing shareholder value, PDC Energy aims to expand its reserves, production, and per-share cash flow and earnings. The company prioritizes safe, efficient operations, environmental stewardship, and community outreach.
PDC Energy's primary operations are centered on developing over 3,000 horizontal drilling locations in the prolific Wattenberg Field in Colorado. This field is known for its rich liquids, which present significant growth opportunities. In addition to its Colorado operations, PDC Energy also has a strong presence in the liquid-rich Utica Shale play in Ohio. These strategic locations enable the company to optimize margins through efficient drilling and effective asset management.
Maintaining a solid balance sheet and prudent debt metrics is a core part of PDC Energy's strategy. The company’s commitment to delivering consistent results has made it a notable player in the energy sector. PDC Energy also places a strong emphasis on environmental responsibility, ensuring that its operations are sustainable and have a minimal ecological footprint. By integrating advanced technologies and best practices in its drilling operations, the company continues to enhance its operational efficiency.
Recent achievements highlight PDC Energy’s ability to navigate the complexities of the energy market while maintaining robust financial health. The company’s partnerships and innovative projects are a testament to its capability to deliver value to its shareholders and contribute positively to the broader community.
PDC Energy, Inc. reported strong Q1 2022 results with approximately $489 million in net cash from operating activities and $539 million in adjusted cash flows from operations. The company achieved $319 million in adjusted free cash flow, returning $110 million to shareholders through stock buybacks and dividends. Total production was 17.9 million barrels of oil equivalent, while oil production reached 5.9 million barrels. The Company is poised for growth with the impending acquisition of Great Western Petroleum, aiming to enhance operational metrics and shareholder returns.
PDC Energy, Inc. (Nasdaq:PDCE) has announced plans to host a conference call on May 5, 2022, at 11:00 a.m. ET to discuss its first quarter 2022 operating and financial results. A news release will be issued after market close on May 4, followed by additional materials available on the Company’s website. The call can be accessed domestically at 877-312-5520 or internationally at 1-253-237-1142 with a conference ID of 9168983. PDC Energy operates primarily in the Wattenberg Field in Colorado and the Delaware Basin in Texas.
PDC Energy (PDCE) announced the acquisition of Great Western Petroleum valued at approximately $1.3 billion, including $500 million in net debt. This deal significantly expands PDC's scale in the Wattenberg area, adding production of 55,000 Boe per day and boosting proved reserves to nearly 1 billion Boe. The transaction is expected to close in Q2 2022, with financing through stock issuance and cash. PDC is increasing its quarterly dividend to $0.25 per share and plans to repurchase $1.25 billion in shares, enhancing shareholder returns through an estimated $2.7 billion in free cash flow by 2023.
PDC Energy (Nasdaq: PDCE) announced a rescheduling of its fourth quarter and full-year 2021 financial results conference call to February 28, 2022. The news release will be issued before market open on that date. The conference call is scheduled for 11:00 a.m. ET, with dial-in details provided for domestic and international callers. Interested parties can access the replay through the company's website for up to six months after the call. PDC Energy focuses on exploring and producing crude oil and natural gas, primarily in Colorado and Texas.
PDC Energy, Inc. (Nasdaq:PDCE) will host a conference call on March 1, 2022, at 11:00 a.m. ET to discuss its fourth quarter and full-year 2021 financial results. The news release will be available on February 28 after market close on the company's website. Interested parties can participate via toll-free numbers provided in the announcement or access a webcast on www.pdce.com. A replay of the call will be available for six months. PDC Energy focuses on the acquisition and development of properties in oil and gas, primarily in Colorado and Texas.
PDC Energy appointed Pamela R. Butcher to its board of directors on February 2, 2022. With nearly 40 years of experience, Butcher previously served as CEO at Pilot Chemical Corp and held various executive roles at Dow Inc. Mark Ellis, Chairman of the Board, highlighted her expertise in ESG and sustainability, enhancing board oversight and aligning with shareholder value creation. This appointment continues PDC's board refreshment strategy, which has added five new independent directors since 2020, including three female or underrepresented minority directors.
PDC Energy announced a special dividend of $0.50 per share along with a quarterly dividend of $0.12 per share, payable on December 29, 2021. These dividends are part of the company's commitment to return over $210 million to shareholders for 2021. PDC anticipates a strong free cash flow exceeding $900 million for the year and expects to reduce its debt by over 40% compared to the previous year. The company has also committed to a consistent share repurchase program.
PDC Energy reported strong third quarter 2021 results, generating approximately $450 million in net cash from operating activities and $268 million in adjusted free cash flow. The company returned $72 million to shareholders through dividends and share repurchases while reducing total debt by $200 million. With a significant increase in production to 18.8 million barrels of oil equivalent, PDC also anticipates more than $900 million in free cash flow for the year, alongside a projected $650 million debt reduction. CEO Bart Brookman highlighted the commitment to shareholder returns, raising targets for 2021.
PDC Energy, Inc. (Nasdaq: PDCE) announced a redemption of $102,324,000 in 6.250% Senior Notes due 2025, effective December 1, 2021. The redemption price is set at 103.125% of the principal amount plus accrued interest, ceasing on the redemption date. Further details will be provided to noteholders through a notice of redemption. PDC Energy focuses on crude oil, natural gas, and NGL production, operating primarily in Colorado's Wattenberg Field and the Delaware Basin in Texas.
PDC Energy announced the approval of its Spinney Oil & Gas Development Plan permit by the Colorado Oil and Gas Conservation Commission. This permit, covering eight wells in Weld County, is the company's first under new regulations enacted in January 2021. As of September 30, PDC's approved permits and drilled but uncompleted wells reflect projected activities through 2023. The company is also making progress on its Kenosha OGDP and Guanella Comprehensive Area Plan, which could significantly increase its future drilling inventory in the region.
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