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PDC's Utica Cole Wells Outperform; Cuts Wattenberg Drill Times
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PDC Energy, Inc. reported its 2015 second quarter financial and operating results and updated its 2015 full-year guidance.
2015 Second Quarter Highlights Production of 37,001 Boe per day; 46% increase year-over-year and 15% growth compared to the first quarter of 2015. Crude oil production of 17,378 Bbls per day; 47% increase year-over-year and 20% growth compared to the first quarter of 2015. Spud 43 and turned-in-line 44 gross operated horizontal wells. In July 2015, Moody's and Standard & Poor's upgraded PDC's corporate debt rating to B1 and B+ respectively, reflecting stronger operational and debt metrics. 2015 Updated Guidance Highlights Increased total production to a range of 14.7 to 15.0 MMBoe, consisting of 47% oil production and an expected year-end exit rate of greater than…- ✓ Full news archive — U.S., Canada & international coverage
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