PDC Energy (PDCE) Misses Q2 EPS by 5c

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Go back to PDC Energy (PDCE) Misses Q2 EPS by 5c

PDC Energy Reports 2016 Second Quarter Financial and Operating Results Including 54% Production Increase; Raises Full-Year 2016 Production Guidance while Reducing Full-Year Capital

August 9, 2016 8:03 AM EDT

DENVER, Aug. 09, 2016 (GLOBE NEWSWIRE) -- PDC Energy, Inc. ("PDC", the "Company," "we" or "us") (NASDAQ: PDCE) today reported its 2016 second quarter financial and operating results and updated its full-year 2016 guidance.

2016 Second Quarter Highlights

Production of more than 57,100 barrels of oil equivalent (Boe) per day; 54% increase year-over-year and 14% increase over the first quarter of 2016.Reduced lease operating expense (LOE) 29% year-over-year to $2.63 per Boe.Turned-in-line 37 gross operated wells including the 10,000 foot lateral Neff well in the Utica. Began completions on first extended-reach lateral wells in the Core... More