CapEx down 15%, production up 20%
By Richard Rostad, analyst, Oil & Gas 360

PDC Energy (ticker: PDCE) announced 2019 guidance today, outlining the company’s transition from aggressive growth to a more moderate posture.

PDC plans to spend about $840 million in 2019, down from the $985 million the company spent in 2018. The vast majority of this sum, $800 million, will be directly invested into oil and gas operations, while the remaining $40 million will go to the company’s Delaware Basin midstream infrastructure.

PDC forecasts this plan will allow 20% production growth, with yearly output of about 131.5 MBOEPD. This falls short of 2018’s 26% growth but is still a significant increase. However, it only requires slight growth fro...

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