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PDC Grows Production 65% in 2015; Reports 2015 Financial Results
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PDC Energy, Inc. 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, or 42,100 barrels of oil equivalent per day.Average crude oil production of 19,130 barrels per day, 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 247%.
Increased cash flow from operations 74% to $411 million in 2015.
Bart Brookman, Chief Executive Officer and President, commented, "PDC successfully navigated the significant challenges and great uncertainty faced by the industry in 2015. Our ability…
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