PDC Energy Inc - PDCE STOCK NEWS

PDC Energy reported preliminary third quarter operating results and updated its full-year guidance for 2021. The company anticipates total production of 197,000 to 200,000 BOE per day and oil production of 63,000 to 65,000 Bbls per day. PDC reduced its total debt by $200 million and expects to exit the quarter with under $1.2 billion in net debt. Full-year production guidance has been adjusted to the lower end of 190,000 to 195,000 BOE per day, with oil production revised to 60,000 to 63,000 Bbls per day due to performance issues in the Delaware Basin.

PDC Energy announced a quarterly cash dividend of $0.12 per share on its common stock, to be paid on September 22, 2021. Stockholders of record as of September 8, 2021 will be eligible. The company focuses on the exploration and production of crude oil, natural gas, and NGLs, operating primarily in the Wattenberg Field in Colorado and the Delaware Basin in Texas, emphasizing horizontal plays.

PDC Energy reported strong second quarter 2021 results with net cash from operating activities of approximately $225 million and adjusted free cash flow of about $165 million. The company aims for over $800 million of free cash flow for the full year, anticipating production levels of 190,000 to 195,000 Boe per day. Significant capital investments of $550 to $600 million are planned, alongside a commitment to reducing net debt and increasing shareholder returns. PDC also established ambitious ESG targets for greenhouse gas reductions by 2025, reflecting its commitment to sustainability.

PDC Energy, Inc. (Nasdaq:PDCE) will host a conference call on August 5, 2021, at 11:00 a.m. ET to discuss its second quarter 2021 operating and financial results. The news release will be available after market close on August 4. Interested parties can join the call via toll-free numbers or the webcast on the company’s website. PDC operates in the Wattenberg Field in Colorado and the Delaware Basin in Texas, specializing in crude oil and natural gas production through horizontal drilling methods.

PDC Energy, Inc. (Nasdaq:PDCE) has declared a quarterly cash dividend of $0.12 per share on its outstanding common stock. The dividend payment is scheduled for June 24, 2021, to stockholders of record as of June 10, 2021. President and CEO Bart Brookman expressed enthusiasm about returning cash to shareholders, highlighting the company’s commitment to debt reduction and share repurchases, which they believe will support sustainable dividend growth.

PDC Energy reported strong first-quarter results for 2021, achieving $355 million in net cash from operating activities and $300 million in adjusted cash flows. The company generated adjusted free cash flow of approximately $175 million and reduced debt by $230 million, maintaining a liquidity of $1.7 billion. Despite weather-related production challenges leading to a 3% drop in total production, PDC remains focused on debt reduction and shareholder returns, planning over $150 million in capital returns. The company aims for a stable production range throughout 2021.

PDC Energy plans to host a conference call on May 6, 2021, at 11:00 a.m. ET to discuss its first quarter 2021 operating and financial results. A news release will be issued after market close on May 5, 2021, with additional materials available on its website. Interested parties can access the conference call via toll-free numbers or listen online. PDC operates as an independent exploration and production company in the Wattenberg Field in Colorado and the Delaware Basin in Texas, focusing on crude oil, natural gas, and NGL production.

PDC Energy (PDCE) reported its 2020 financial results, revealing net cash from operating activities of approximately $870 million, with adjusted cash flows from operations at around $920 million. Capital expenditures were $520 million for the year. The company reduced total debt by $300 million post-acquisition of SRC Energy, leading to a leverage ratio of 1.7 times. PDC plans 2021 capital investments between $500-$600 million, targeting over $400 million in free cash flow. A quarterly dividend program will commence mid-2021, aiming for at least $120 million returned to shareholders.