PDC Energy, Inc. (ticker: PDCE) has appointed David Honeyfield its chief financial officer effective December 19, 2016.

PDC Energy Appoints David Honeyfield CFO

PDC Energy Appoints David Honeyfield CFO

David Honeyfield was previously CFO for Jonah Energy in Denver.  His previous experience includes six years at Intrepid Potash, where he served as president and CFO. Honeyfield served as CFO at SM Energy, controller and CAO at Cimarex Energy/Key Production Company, and Senior Audit Manager at Arthur Andersen. Honeyfield holds a BA in Economics from the University of Colorado and is a CPA.

PDC President and CEO Bart Brookman said, “David has an extensive financial and accounting background in the oil and gas industry … . He has served in various roles of increasing responsibility with several highly successful companies and we are excited to add his expertise and leadership skills to our management team.”

PDC: Ready to Integrate and Develop Permian Assets in 2017

Brookman summarized Q3 as a “terrific” quarter for PDC during its 3Q earnings call reported by Oil & Gas 360® in November.

Brookman called for increased production and activity going forward in both the company’s core Wattenberg and Delaware acreage.

Third quarter production increased 39% year-over-year to 65,000 BOEPD, despite a 10% year-over-year decline in CapEx, which was $118.0 million. Per BOE lease operating expenses declined 27% year-over-year to $2.33. Forty gross operated wells were turned online, including the company’s first two-mile lateral wells in the Core Wattenberg in Colorado.

The company spudded 16 extended reach lateral wells in the Wattenberg, continuing trends seen throughout the basin. Brookman noted that “these projects are becoming increasingly prevalent in our Wattenberg operating plan and will be a key part of our 2017 capital budget when blended with the recent acreage swap.”

EnerCom’s Quarterly Analytics profile on PDC Energy is available here.

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