PDC Energy (PDCE) Posts Q1 Loss of $1.72/Share

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Go back to PDC Energy (PDCE) Posts Q1 Loss of $1.72/Share

PDC Energy Reports 2016 First Quarter Financial and Operating Results; Production Increase of 58% to 4.6 Million Barrels of Oil Equivalent

May 6, 2016 8:00 AM EDT

DENVER, May 06, 2016 (GLOBE NEWSWIRE) -- PDC Energy, Inc. ("PDC", the "Company," "we" or "us") (NASDAQ: PDCE) today reported its 2016 first quarter financial and operating results.

2016 First Quarter Highlights

Production of 4.6 million barrels of oil equivalent (MMBoe), a 58% increase year-over-year; daily production of 50,216 barrels of oil equivalent (Boe).Crude oil production of 20,965 barrels (Bbls) per day, a 44% increase year-over-year and representing 42% of total production.Turned-in-line 47 gross operated wells, including 34 turn-in-lines in March 2016.Senior unsecured notes raised to BB- from B+ by Standard & Poors; Corporate Rating at Moodys and... More