Depreciation, depletion and amortization ("DD&A") expense related to crude oil and natural gas properties was $29.6 million, or $17.25 per Boe, in the third quarter of 2013, compared to $21.0 million, or $15.87 per Boe, in the third quarter of last year. The increase in DD&A expense in the third quarter of 2013 was primarily due to an increase in production volumes and initial DD&A expense related to Utica production.Interest expense for the third quarter of 2013 was $12.5 million compared to $11.4 million for the third quarter of 2012. The increase in interest expense was primarily related to increased interest expense associated with the issuance of $500 million of 7.75% senior notes due 2022 in October 2012, the proceeds of which were used to redeem $203 million of then-outstanding 12% senior notes due in November 2012, partially offset by lower average borrowings on the Company's revolving credit facility.
PDC Energy Announces 2013 Third Quarter Results: Solid Wattenberg Production; Initial Production From Wattenberg 16-Wells Per Section Downspacing Project Outperforming Type Curves; Strong Production From First Horizontal Washington County Utica Well
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