|Exchange:||NASDAQ national market|
|Stock:||PDC Energy Inc|
|Industry:||Oil & Gas E&P|
|PDC Energy Inc, a Nevada corporation, was founded in 1969. The Company was formerly known as Petroleum Development Corporation and changed its name to PDC Energy, Inc. It acquires, develops, explores and produces natural gas, NGLs and crude oil with operations in the Western and Eastern regions of the United States. Western Operating Region is engaged in the development of Wattenberg Field in Colorado, particularly in the liquid-rich horizontal Niobrara and Codell plays. The Eastern Operating Region is engaged in the development activities in the liquid-rich portion of the Utica Shale play in Ohio. Its business is segmented into two - Oil and Gas Exploration and Production and Gas Marketing. The Oil and Gas Exploration and Production segment produces and sells natural gas to midstream marketers, utilities, industrial end-users, and other wholesale purchasers; crude oil to oil marketers and refiners; and NGLs to one NGL marketer in the Wattenberg Field. The Gas Marketing segment purchases, aggregates, and resells natural gas in the eastern operating region; and purchases natural gas produced by third party producers for resale. This segment markets natural gas to third-party marketers and natural gas utilities, as well as to industrial and commercial customers. As of December 31, 2012, it had approximately 1.2 trillion cubic feet equivalent of proved reserves, as well as owned an interest in approximately 7,200 gross wells located primarily in the Wattenberg Field, Utica Shale, Appalachian Basin, northeast Colorado, and Piceance Basin. Its operations are subject to various conservation laws and regulations. These include the regulation of the size of drilling and spacing units or proration units, the density of wells which may be drilled and the unitization or pooling of properties.|
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