PDC Energy (PDCE) reports Q4 Loss of $1.11/Share

PDC Energy (NASDAQ: PDCE) reported Q4 EPS of ($1.11), may not compare to the analyst estimate of $0.21. Revenue for the quarter came in at $407 million, may not compare to the consensus estimate of $136.49 million.

PDC's 2015 updated capital budget is approximately $473 million, a decrease of 15% compared to its previously announced $557 million. The decrease is due to service cost reductions and an expected decrease in non-operated activity, which was partially offset by increased working interest in the operated drilling program. The Company's plan to operate five drilling rigs in Wattenberg remains intact. The Company widened its 2015 production guidance range slightly to 13.5 – 14.5 MMBoe from 13.8 – 14.5 MMBoe, due to uncertainty regarding the timing of non-operated activity. Production growth from 2014 to the mid-point of the revised 2015 guidance range is 51%.

For earnings history and earnings-related data on PDC Energy (PDCE) click here.

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