Marcellus ShalePDCM, the Company's 50-50 joint venture in the Appalachian Basin, recently completed a three-well pad in Harrison County, West Virginia, which was hooked up to sales in mid-November of 2012. The three-well pad came on-line at an initial 24-hour combined rate of approximately 19 million cubic feet ("MMcf") per day of natural gas. PDCM anticipates the resumption of drilling in Harrison County in the first quarter of 2013 in response to well performance in that area and improving natural gas prices.
PDC Energy Announces 2013 Capital Budget Of $324 Million And Production Guidance Of 55 To 57 Bcfe; Successful Initial Utica Shale Results; Update Of Activity In The Wattenberg Field And Marcellus Shale
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