Company profile

Ticker
PDCE
Exchange
Website
CEO
Barton R. Brookman
Employees
Incorporated in
Location
Fiscal year end
Former names
Petroleum Development Corp
SEC CIK
IRS number
952636730

PDCE stock data

(
)

Calendar

7 Nov 19
16 Dec 19
31 Dec 19

News

Company financial data Financial data

Quarter (USD) Sep 19 Jun 19 Mar 19 Dec 18
Revenue 365.94M 390.66M 134.5M 794.81M
Net income 15.91M 68.55M -120.18M 178.85M
Diluted EPS 0.25 1.04 -1.82 2.71
Net profit margin 4.35% 17.55% -89.35% 22.50%
Operating income 44.38M 110.04M -140.62M 256.19M
Net change in cash 3.09M 362K -286K 29K
Cash on hand 4.57M 1.47M 1.11M 1.4M
Annual (USD) Dec 18 Dec 17 Dec 16 Dec 15
Revenue 1.55B 921.62M 382.92M 595.33M
Net income 2.02M -127.5M -245.93M -68.28M
Diluted EPS 0.03 -1.94 -5.01 -1.74
Net profit margin 0.13% -13.83% -64.23% -11.47%
Operating income 77.75M -238.25M -332.11M -63.82M
Net change in cash -179.28M -63.43M 243.25M -15.22M
Cash on hand 1.4M 180.68M 244.1M 850K

Financial data from PDC Energy earnings reports

Financial report summary

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Risks
  • The transactions contemplated by the Merger Agreement are subject to conditions that may not be satisfied on a timely basis or at all. Failure to complete the transactions contemplated by the Merger Agreement could have material and adverse effects on us.
  • We will be subject to business uncertainties while the SRC Acquisition is pending, which could adversely affect our business.
  • Our shareholders will have a reduced ownership in the combined company after the SRC Acquisition and may exercise less influence over the policies of the combined company.
  • The market price of shares of our common stock may decline in the future as a result of the sale of shares of our common stock held by former SRC shareholders or our current shareholders.
  • The Merger Agreement limits our ability to pursue alternatives to the SRC Acquisition.
  • Even if the SRC Acquisition is completed, we may not achieve the anticipated benefits and the SRC Acquisition may disrupt our current plans or operations.
  • We are expected to incur significant transaction costs in connection with the SRC Acquisition, which may be in excess of those we currently anticipate.
  • Investigations regarding the merger could result in one or more lawsuits against the SRC board, SRC and/or PDC, and other lawsuits may be filed against SRC, PDC and/or their respective boards challenging the merger. An adverse ruling in any such lawsuit may prevent the merger from being completed.
  • Lawsuits have been filed against SRC, the directors of SRC and PDC regarding the merger, which could result in substantial costs and may delay or prevent the merger from being completed.
  • After the SRC Acquisition is completed, PDC will be proportionally more exposed to regulatory risks associated with oil and gas operations in Colorado and other risks associated with a more geographically-concentrated asset base.
Management Discussion
  • ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  • Production volumes increased to 12.7 MMboe and 36.4 MMboe for the three and nine months ended September 30, 2019, respectively, representing increases of 26 percent and 28 percent as compared to the three and nine months ended September 30, 2018, respectively. Crude oil production increased 13 percent and 19 percent for the three and nine months ended September 30, 2019, respectively, compared to the three and nine months ended September 30, 2018, respectively. Natural gas production increased 35 percent in each of the three and nine months ended September 30, 2019 compared to the three and nine months ended September 30, 2018. NGLs production increased 37 percent and 35 percent for the three and nine months ended September 30, 2019, respectively, compared to the three and nine months ended September 30, 2018, respectively. For the month ended September 30, 2019, we maintained an average daily production rate of approximately 138,000 Boe per day, up from approximately 121,000 Boe per day for the month ended September 30, 2018.
  • On a sequential quarterly basis, total production for the three months ended September 30, 2019 as compared to the three months ended June 30, 2019 increased by two percent and crude oil production decreased by one percent. The increase in total production volumes was primarily related to the timing of wells turned-in-line in both areas of production, partially offset by elevated gathering system line pressures and unplanned facility downtime in the Wattenberg Field. The decrease in crude oil production was primarily related to elevated gathering system line pressures and unplanned facility downtime.
Content analysis ?
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Constraining
Legalese
Litigous
Readability
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