Forecast - Production | Capital Markets | Capital Expenditure | Drilling Program-Rig Count | Capital Expenditure - 2019
PDC Spending $150MM Less in 2019; Expects 20% Production Growth
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PDC Energy, Inc. detailed its 2019 capital plans as well as its Q4 2018 results.
*The company's guidance utilizes a flat $50 WTI oil and $3 NYMEX gas price deck
2019 Plans- 2019 Capex: $810-870 million (down $150MM from 2018)
- 2019 Production Guidance: 46-50 MMBOE (up +20% from 2018)
- Rigs: 5.5 rigs running (3 DJ Basin / 2.5 Delaware Basin)
This is down from 7 rigs at year-end 2018 2018 Highlights: Full-year 2018 oil and gas capital investment of approximately $985 million, generating a year-over-year production increase of 26% to 40.2 million barrels of oil equivalent ("MMBoe").Full-year 2018 oil production increased 32% year-over-year to approximately 17.0 million barrels.
Fourth quarter 2018 production of approximately 11.8 MMBoe with a December exit rate of approximately…
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