PDC Energy (PDCE) Reports Q4 Loss of $2.22/Share

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Go back to PDC Energy (PDCE) Reports Q4 Loss of $2.22/Share

PDC Energy Announces 2018 Results, 2019 Guidance and 2020 Outlook Emphasizing Free Cash Flow at $50 Oil

February 27, 2019 4:30 PM EST

DENVER, Feb. 27, 2019 (GLOBE NEWSWIRE) -- PDC Energy, Inc. ("PDC" or the "Company") (NASDAQ: PDCE) today reported its 2018 full-year and fourth quarter operating and financial results and provided detailed 2019 guidance and preliminary 2020 outlook.

2018 Highlights

Full-year net cash from operating activities of approximately $890 million, a 49 percent increase compared to 2017. Year-over-year production increase of 26 percent to 40.2 million barrels of oil equivalent (MMBoe) or approximately 110,000 Boe per day with a December exit rate of approximately 130,000 Boe per day.  Oil production of 17.0 million barrels (MMBbls), representing 42 percent of total production and a 32 percent increase from... More