Midstream constraints impact DJ results
PDC Energy (ticker: PDCE) announced third quarter results today, showing net losses of $3.4 million, or ($0.05) per share.

PDC produced about 110 MBOEPD in Q3, up 21% from last year and up 6% sequentially. This is slightly below expectations, due to constraints in the DJ Basin. PDC reports the Delaware produced above expectations, however, somewhat nullifying the constraints in the Wattenberg. The DJ accounts for about 75% of PDC’s output, while the Delaware makes up the remining 25%.

PDC reports DCP’s Plant 10 came online in the DJ in late Q3, which has allowed the company to increase its gas volumes. Additional gas takeaway capacity is upcoming, and additional system optimization is underway....


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