PDC Energy – Day Two Breakout Notes

Gsyle Shellum, Chief Financial Officer, Barton Brookman, Senior Vice President of Exploration and Production and Lance Lauck, Senior Vice President of Corporate Development at PDC Energy (PDCE) presented today at EnerCom’s The Oil & Gas Conference® 17. PDC Energy is a domestic independent exploration and production company that acquires, develops, explores and produces natural gas, NGLs and crude oil. The Company’s Western Operating Region is primarily focused on development in the Wattenberg Field in Colorado, particularly in the liquid-rich horizontal Niobrara play and on the ongoing development of refracture/recompletion of PDC’s existing Wattenberg vertical wells. In the Company’s Eastern Operating Region, PDC is focused on horizontal development in the Marcellus Shale in northern West Virginia, and recently initiated exploration and development activity in the liquid-rich portion of the Utica Shale play in Ohio. PDC is included in the S&P SmallCap 600 Index and the Russell 3000 Index of Companies.

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

• How much are you expecting to get (dollar per acre) for the areas that you are divesting?
• Are you suspending your entire refrac process due to high line pressures?
• Is your Codell a 4,000 foot lateral?
• Is the Codell prospective of all acreage in Wattenberg?
• On the highline pressure issues – is it uniform across the basin?
• Can you use the condensate from the Utica locally?
• How does the southern part of Washington County look as a prospect? Why are others in the area focusing on the northern portion?
• Do you have any theories as to why when you move west in the Utica there are sharper decline curves?

Click here for PDC Energy’s webcast.

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