PDC Energy,Inc. (NASDAQ:PDCE) Files An 8-K Regulation FD Disclosure

ME Staff 8-k
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PDC Energy,Inc. (NASDAQ:PDCE) Files An 8-K Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure.

PDC Energy, Inc.’s (“PDC” or the “Company”) thoughts are with all those affected by the tragedy in Firestone, Colorado over two weeks ago.

Following preliminary results of the third-party investigations into the tragedy, which focused on the vertical well and flowlines of another operator, Governor Hickenlooper and the Colorado Oil and Gas Conservation Commission (“COGCC”) issued a Notice to Operators (the “Notice”) to inspect and ensure the integrity of their existing flowlines within 1,000’ of a Building Unit, as such term is defined in the COGCC rules.

PDC has an existing Flowline Integrity Management Program to inspect all DJ Basin wells on an annual basis. As a result of the Notice, the Company will be accelerating inspection of flowlines associated with all wells affected by the Notice. PDC has an initial plan in place, and will take all reasonable steps to ensure the Company deploys the appropriate resources to complete both Phase 1 and Phase 2 inspections in the time frame prescribed in the Notice.

The Company believes these inspections can be completed in an orderly manner and expects minimal impact to PDC’s production, while maintaining its commitment to safety.


About PDC Energy, Inc. (NASDAQ:PDCE)

PDC Energy, Inc. is an independent exploration and production company. The Company produces, develops, acquires and explores for crude oil, natural gas and natural gas liquids (NGLs) with operations in the Wattenberg Field in Colorado and the Utica Shale in southeastern Ohio. The Company operates through two segments: Oil and Gas Exploration and Production, and Gas Marketing. The Company’s Oil and Gas Exploration and Production segment includes all of its crude oil and natural gas properties. The Company’s Gas Marketing segment purchases, aggregates and resells natural gas. The Company’s operations in the Wattenberg Field are focused on the horizontal Niobrara and Codell plays. Its Delaware Basin operations are focused in the Wolfcamp zones and its Ohio operations are focused in the Utica Shale play. As of December 31, 2016, the Company owned an interest in approximately 2,900 productive gross wells.

PDC Energy, Inc. (NASDAQ:PDCE) Recent Trading Information

PDC Energy, Inc. (NASDAQ:PDCE) closed its last trading session down -2.64 at 52.13 with 3,096,914 shares trading hands.