PDC Energy (PDCE) Misses Q4 EPS by 16c
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PDC Energy Announces 2015 Year-End and Fourth Quarter Operating and Financial Results; Well Cost Savings Reduce 2016 Capital Forecast to $420 to $450 Million
February 22, 2016 8:02 AM ESTDENVER, Feb. 22, 2016 (GLOBE NEWSWIRE) -- PDC Energy, Inc. ("PDC" or the "Company") (NASDAQ: PDCE) today reported its 2015 year-end and fourth quarter operating and financial results.
2015 Highlights
Achieved 65% production growth from continuing operations over 2014 to 15.4 million barrels of oil equivalent (MMBoe), or 42,100 barrels of oil equivalent per day ("Boe/d"). Average crude oil production of 19,130 barrels per day (Bbls/d), 45% of 2015 total production and a 62% increase over 2014 levels. Maintained conservative debt metrics and strong liquidity throughout 2015. Increased proved reserves 9% to 273 MMBoe with reserve replacement of... More