Current PDCE Stock Info

PDC Energy Breakout Notes

Barton R. Brookman, Jr., president and CEO of PDC Energy Inc. (ticker: PDCE) presented today at EnerCom’s The Oil & Gas Conference® 22.

PDC Energy’s core production is sourced from its acreage in the Watteberg Field, in Colorado’s DJ Basin—where it holds approximately 96,000 net acres. The company is also developing new assets in the Delaware basin, where it now holds approximately 62,500 net acres.

During Q2, 2017 PDC indicated that it had a net income of $41.2 million, up from a loss of $95.5 million in Q2, 2016. The company brought six wells to production in the Delaware basin during the course of Q2, and averaged 10,047 BOEPD of production out of the basin. The company’s first extended reach lateral in the Delaware produced over 2,000 BOEPD for 100 days, as of August 8, 2017.  The company spud 44 wells and brought 32 wells to production in the Wattenberg, where it averaged 75,621 BOEPD.

During the company’s breakout session, management was asked the following questions:

  • For the Delaware basin, when you last look at your plan, how could you be able to do larger multi stack development?
  • With the recent accidents in Colorado, how concerned you are with the operation and political environment against operators?
  • Going back to West Texas, how much acreage was included in the second quarter? Does that effectively condone the acreage?
  • Back to Delaware basin, as you get to ramping, do you anticipate any take away issues?
  • On your DJ acreage, how many wells per section do you anticipate?
  • With the line pressure, is there any thoughts on the changes of where you would drill in 2018?
  • Where would you put your next dollar for acquisition capital? West Texas or Colorado? Can you remind us of how much acreage sits in the low GOR area?
  • With the six-year outlook, you showed the increment of capital in 2018-2019 comparing to 2017, can you talk about what drives that?
  • About two western Permian wells results, is there a reason we should value that area in the long term?
  • In Utica, can you talk about the time line for the development of that asset?
  • Could you give your thoughts on recent stock performance?

PDC Energy presented at EnerCom’s 2017 The Oil & Gas Conference®.

You can listen to the company’s presentation by clicking here.

You can view the company’s Q2 update by clicking here.

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