In December 2016, PDC Energy made a significant acquisition of assets in the Delaware Basin. As of year-end 2021, we had approximately 25,000 net acres in Reeves County. Our 2022 drilling is focused primarily on multi-well pads testing Wolfcamp wells in the A or B benches in our Block 4 and North Central areas.

Robust Inventory Potential in the Basin’s ~3,000′ Thick Gross Interval

The Delaware Basin has gross potential pay interval that is around 3,000 feet thick from the top of the Bone Spring and Avalon Shale to the base of the lower Wolfcamp. Our year-end 2021 analysis identified approximately 65 drilling locations with an average lateral length of ~10,200’  in our Eastern and North Central focus areas.  We have also identified additional potential inventory in our non-focus areas that are within untested target zones that may be subject to a higher degree of uncertainty or may depend upon additional delineation and testing.