Acquisitions and Divestitures | Print |
Evaluating acquisitions to grow reserves and production
PDC Energy evaluates acquisitions of both producing and undrilled oil and natural gas properties in order to grow reserves, production and cash flow. PDC is focused on potential acquisitions within its operating areas where the Company utilizes horizontal drilling; the liquid-rich core Wattenberg Field, the liquid-rich Delaware Basin and the condensate and wet gas windows of the Utica Shale play. Additionally, the Company may consider acquisition opportunities in other areas which meet its technical, operating and financial criteria.
The Company's acquisition strategy focuses on existing core areas and potential new basins
Core area acquisitions - which complement PDC’s existing positions in its core Wattenberg in Colorado, Delaware Basin in West Texas and Utica Shale in Southeast Ohio. The Company evaluates most acquisition opportunities in its core areas including producing properties with HBP leasehold and new primary term leases.
New basin acquisitions – which are concentrated in areas that align with the Company’s technical and commercial strengths; where scale, repeatability and large resource potential offer value-adding growth opportunities. The Company currently looks more closely at liquid–rich property acquisitions. The Company is not focused on acquisitions of properties that include Enhanced Oil Recovery (“EOR”) projects or properties that are located in the Gulf of Mexico, Gulf Coast, or International plays.
To Contact PDC regarding a potential acquisition opportunity, please contact:
Lance Lauck, EVP Corporate Development and Strategy 303-831-3941
Jim Lillo, VP of Engineering and Technology 303-860-5817