Saturday, May 3, 2025

PDC Predicts 50% Production Growth in 2017

CapEx up 87% from 2016 levels PDC Energy (ticker: PDCE) released fourth quarter results and reserves yesterday, showing a net loss of $55.6 million, or ($0.94) per diluted share. Total 2016 results are a loss of $245.9 million, or ($5.01) per diluted share. After adjusting for derivative results, fourth quarter and full year results are $0.18 and ($0.75) per share,

BP Targets $40 Breakeven in 2021

From Bloomberg BP (ticker: BP) said it will need a crude price of about $40 a barrel in 2021 to cover spending and dividends, down from $60 this year, as Chief Executive Officer Bob Dudley seeks to reassure investors on the oil major’s growth outlook and finances. The break-even level will fall as BP keeps capital spending at no more