PDC Energy’s long-term growth strategy is to generate stockholder value through the acquisition, exploration and development of crude oil and natural gas assets capable of generating sustainable free cash flow.

Maintaining a conservative and disciplined financial strategy, which includes a strong balance sheet and solid debt metrics, abundant liquidity and a robust hedging program is critical to our success. Additionally, we constantly pursue various midstream, marketing and cost reduction initiatives designed to increase per unit operating margins.

 

Current Strategic Focus:

At PDC, we place a strong emphasis on organic development through horizontal drilling programs in the Wattenberg Field and the Delaware Basin. Our focus is on maintaining a strong balance sheet and conservative debt metrics, throughout commodity price cycles.

SUSTAINABLE LONG-LIFE RESERVES

  • 731 MMBoe proved reserves as of year-end 2020, equates to a reserve life index of over 10 years based on 2020 production of 68 MMBoe
  • Significant operational control in both basins and leases in Wattenberg nearly 100% held-by-production

RESILIENT DRILLING PROGRAM IN WATTENBERG FIELD

  • The Core Wattenberg is a top-tier economic rate-of-return U.S. onshore field.
  • PDC is the third largest leaseholder and producer in the Wattenberg Field, which provides very repeatable and consistently strong drilling results.
  • We are focused on driving additional capital efficiency through improved completion enhancements, extended reach laterals and consolidating acreage through trades.
  • Our projects have a well-developed, diversified and expanding third-party midstream and pipeline infrastructure to accommodate future volume growth.

DEVELOPMENT OF DELAWARE BASIN

  • Significant drilling to target the Wolfcamp A, B, and C zones
  • Pursuit of longer-lateral drilling, completion enhancements and expansion of our drilling inventory
  • Future downspacing tests planned in the Wolfcamp as well as additional tests in the deep Wolfcamp, Avalon and Bone Spring horizons

TALENTED ORGANIZATION - FOCUSED ON RESULTS

  • Substantial horizontal drilling, completion and operating skill sets
  • Focus on utilizing new technology to create additional value
  • Continuous midstream and marketing focus on improving netbacks
  • Emphasis on safety, environment, and corporate responsibility