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PDC Talks Fourth Quarter 2019 Results; 2020 Outlook
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PDC Energy, Inc. announced its 2019 full-year and fourth quarter operating and financial results. The Company also provided detailed 2020 guidance and a preliminary 2021 outlook.
2019 Highlights: Net cash from operating activities of approximately $858 million, adjusted cash flows from operations, a non-U.S. GAAP metric defined below, of approximately $825 million and oil and gas capital investments of approximately $788 million. Approximately $38 million of free cash flow, a non-U.S. GAAP metric defined as net cash flows from operating activities, excluding changes in working capital, less oil and gas capital investments. Total production of 49.4 million barrels of oil equivalent (“MMBoe”), or approximately 135,000 barrels of oil equivalent (“Boe”) per day, a 23 percent increase…- ✓ Full news archive — U.S., Canada & international coverage
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