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PDC, Noble Ink Wattenberg Acreage Trade Deal
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PDC Energy, Inc. has entered into definitive agreements with Noble Energy, Inc. and certain affiliates to consolidate certain acreage positions in the Core Wattenberg field located in Weld County, Colorado. The Company anticipates closing this transaction early in the fourth quarter of 2016.
The agreement only includes acreage and not wellbores. PDC expects to receive approximately 13,500 net acres from Noble in exchange for approximately 11,700 net acres. The difference in net acres is primarily due to variances in net revenue interests. A map is available (see below) highlighting the positive impact of PDC's newly consolidated Middle Core acreage.
Bart Brookman, PDC's President and CEO, said: "The anticipated acreage trade creates significant operational efficiencies and…
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