Post Tagged with: "Bart Brookman"

Source: PDC Energy

PDC Energy to Acquire SRC Energy

By Tyler Losier, Energy Reporter, Oil & Gas 360 PDC Energy to acquire SRC Energy in all-stock transaction valued at approximately $1.7 billion PDC Energy Inc. (stock ticker: PDCE), an independent E&P based out of Denver, has entered into a definitive agreement to acquire SRC Energy Inc. (stock ticker: SRCI), also located in Denver, in an all-stock transaction valued at approximately $1.7 billion, including SRC’s net debt of approximately $685 million as of June 30, 2019. This consideration represents a premium of 6.8% to the 30-day average exchange ratio of 0.148x. Under the terms of the two companies’ agreement, SRC shareholders will receive 0.158 shares of PDC for each share of SRC common stock owned, representing an… Login or click here to subscribe Username or E-mail Password Remember Me     Forgot Password

PDC Energy (ticker: PDCE) CEO Bart Brookman rang the Nasdaq opening bell today in celebration of PDC’s 40 years trading on Nasdaq.

PDC Energy Celebrates 40 Years on Nasdaq

PDC Energy (ticker: PDCE) CEO Bart Brookman rang the Nasdaq opening bell today in celebration of PDC’s 40 years trading on Nasdaq. The company had numerous executives on site for the occasion at the Nasdaq MarketSite in Times Square. PDCE: a thumbnail PDC started off in Bridgeport, West Virginia, in 1969 as Petroleum Development Corporation. The company was focused on shallow Upper Devonian drilling partnerships in the Appalachian basin, drilling for natural gas. The company began trading on Nasdaq under the symbol PEDT in 1977, with a $1.75 share price, a $9 million market cap and proved reserves of 1.4 MMBOE (89% natural gas). PDC moved its headquarters to Denver in 2009 as it acquired additional assets in the Rocky Mountains. In 2010 it began trading under the ticker PDCE and its focus moved toward liquids. By 2014 the company had achieved a market cap of $2 billion. In 2016, PDC[Read More…]

Brookman: A Truly Transformational Quarter for PDC

Brookman: A Truly Transformational Quarter for PDC

PDC: Ready to Integrate and Develop Permian Assets in 2017 PDC (ticker: PDCE) CEO Bart Brookman summarized Q3 as a “terrific” quarter for PDC on its 3Q earnings call today. 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.” PDC’s $1.5 Billion[Read More…]