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PDC Ramps Up Production 44% YOY to 31.8 MMBOE
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PDC reported its Q4 2017 results.
Highlights: YOY production increase of 44% to 31.8 MMBOE or approximately 87,200 Boe per day with a December exit rate of approximately 97,000 Boe per day Oil production of 12.9 million barrels (MMBbls), representing 41% of total production Increase in proved reserves of 33% to 453 MMBoe, with all-sources reserve replacement of approximately 450 percent, driven primarily through an increase in Delaware Basin proved reserves to nearly 100 MMBoe. Drilling Activity:In Wattenberg, the Company spud and turned-in-line 153 and 130 wells in 2017, including 34 and 19 spuds and turn-in-lines in the fourth quarter of 2017. The Company is consistently drilling and completing wells while continuing to work closely with its primary third-party midstream gas…
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