Bart Brookman, President and Chief Executive Officer of PDC Energy (NASDAQ: PDCE), presented today at EnerCom’s The Oil & Gas Conference 20®.
PDC Energy Inc. is a domestic independent exploration and production company that produces, develops, acquires and explores for crude oil, natural gas and NGLs with primary operations in the Wattenberg Field in Colorado and in the Utica Shale in southeastern Ohio. The Wattenberg Field operations are focused on the liquid-rich horizontal Niobrara and Codell plays and the Ohio operations are focused in the condensate and wet gas portion of the Utica Shale play.
In its second quarter 2015 results, PDC Energy announced production growth of 15% compared to Q1’15 and 46% compared to Q2’14. Wattenberg well costs decreased to an estimated $3.1 and $4.1 million for standard and extended reach laterals, respectively, compared to 2014.
During the company’s breakout session, management was asked the following questions:
- What kind of impact do line pressures have on some of the legacy production in the Wattenberg?
- How sensitive are you to commodity prices in 2017, and how will that affect your outlook?
- How big of an impact can the spacing test have on your inner core inventory?
- Operational changes are clearly showing improvement in capital intensity. What are some additional drivers for improving your capital intensity?
- Can you talk about return, cash impact and net present value today versus a couple years ago?
- Can you talk about adding additional inventory? Whether it be in the outer DJ Basin or in the Wattenberg?
- Can you talk about the outlook for regional U.S. natural gas prices in next couple of years?
- What is the estimated percentage of production you have hedged for 2016?
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