PDC Energy Increases 2015 Wattenberg Capex to $435 Million

pdc-energy-inc-logoOn PDC Energy’s Q4 2014 conference call the company announced their Q4 and year end 2014 earnings. The company announced a 2015 capital reduction of 84 million dollars, and a 50% expected production increase in 2015 to 14.5 MMBoe. The company plans to spend $435 million on its Wattenberg assets which is an increase to 92% of its capital, up from a 76% expenditure in 2014.

PDC Energy Q4 2014 Conference Call  - Operational Efficiencies in Wattenberg

PDC Energy Q4 2014 Conference Call – Operational Efficiencies in Wattenberg

In operational highlights, the company’s 2014 Wattenberg production was 23,243 Boe/d with proved reserves in Wattenberg totaling 245 MMBoe. PDC Energy’s inner Wattenberg Core wells are following a 580 MBOE Type Curve.

In 2015 the company expects to reap the benefits from the efficiencies of Extended Length Laterals, Increased stage density, an updated inner core type curve, and a drill program focused on middle/inner Wattenberg Field core.

View the PDC Energy Fourth Quarter 2014 Conference Call

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