New comp plan is based on cash flow per debt-adjusted share, free cash flow as a percent of total capital investment, capital efficiency, LOE and G&A per BOE and production
By Richard Rostad, analyst, Oil & Gas 360

PDC Energy (ticker: PDCE) announced fourth quarter results today, showing $178.8 million in net income, or $2.71 per share.

PDC produced 128 MBOEPD in Q4 2018, up 36% year-over-year. The company produced 110 MBOEPD throughout the year, up 26% from 2017 levels. PDC’s Delaware Basin provided much of this growth, and yearly output from the Delaware is up 124%, compared to 14% growth in the Wattenberg. The Delaware now accounts for just under one quarter of PDC’s total output, as the company produced 30.9 MBOEPD from t...

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