DENVER, Sept. 16, 2013 (GLOBE NEWSWIRE) -- PDC Energy, Inc. ("PDC" or the "Company") (Nasdaq:PDCE) today announced that it suspended production from a limited number of wells in its Wattenberg Field operations beginning last Friday due to wide-spread flooding and extensive road closures in Weld County, Colorado. The Company expects to return the majority of suspended wells to production this week.
"As our first concern was for the safety of our employees in the field and to minimize any impact to the environment, we elected to shut-in production sites before they became inaccessible due to road closures and flood conditions. Beginning today we are assessing impacts to individual well sites and expect a full assessment as the flood waters recede this week. We plan to access the well sites using alternate routes around impacted roads and bridges and anticipate the majority of the impacts to operations will be short-term," said James Trimble, CEO.
"We know there are many families, including some of our employees, in Weld and surrounding counties who have been impacted by the flooding. We are supporting local flood relief efforts," Mr. Trimble said.PDC operates approximately 2,300 vertical and 80 horizontal wells in the Wattenberg Field. The Company does not expect any significant drilling or completion delays including ongoing activities at its Waste Management pads. About PDC Energy, Inc. PDC Energy is a domestic independent energy company engaged in the exploration, development and production of crude oil, NGLs and natural gas. Its operations are focused primarily in the liquid-rich Wattenberg Field of Colorado, including the horizontal Niobrara and Codell plays, the Utica Shale in Ohio and the Marcellus Shale in West Virginia. PDC is included in the S&P SmallCap 600 Index and the Russell 2000 Index of Companies.
CONTACT: Michael Edwards Senior Director Investor Relations 303-860-5820 email@example.com Marti Dowling Manager Investor Relations 303-831-3926 firstname.lastname@example.org
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV