PDC Energy follows a simple and effective business strategy of maximizing margins and cash flow while maintaining a strong balance sheet and solid debt metrics.
PDC is focused on horizontal drilling and low-risk organic development of oil and natural gas reserves from shales and tight reservoir rocks.
We currently operate in two geographically distinct areas of the country, with primary interest in the Wattenberg Field and Delaware Basin.
Our focus is on horizontal Niobrara and Codell development in the liquid-rich Wattenberg Field, where liquid content in new horizontal wells is expected to average 50% – 75% of the production stream. In the Delaware Basin, the Company is primarily targeting Wolfcamp A and B development where we expect the Eastern acreage block to be 70-80% liquids and the Central block 60-70% liquids.
Annual production for 2019 averaged 135,000 Boe per day and proved reserves at year-end 2019 totaled 611 MMboe.
We are committed to maintain a strong balance sheet as part of our fiscal strategy. This is partially done through the utilization of an active hedging program for oil and natural gas aimed at reducing the potential effects of variable commodity prices while insulating our cash flow that funds our capital investment program.
At PDC Energy, our core values emphasize integrity and respect for the environment and for the health, safety and well-being of our employees and the communities where we live and work. We seek to live our core values every day.