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 delivering strong, value-added growth in production, reserves and 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 by growing our production, reserves and cash flow from our high-value, horizontal drilling programs in the Wattenberg Field and the Delaware Basin. Our focus is on maintaining its strong balance sheet and conservative debt metrics, throughout commodity price cycles.
- 545 MMBoe proved reserves as of year-end 2018, equates to a reserve life index of over 13 years based on 2018 production of 40.2 MMBoe
- Significant operational control in both basins and leases in Wattenberg nearly 100% held-by-production
- 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.
- 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
- 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