Production for 2013 increased 35% to 20,400 Boe/d, from 15,000 Boe/d in 2012. The increase in production was primarily due to ongoing successful horizontal drilling in the Company's three operating areas, the Wattenberg Field in Colorado, the Utica Shale in southeast Ohio and the Marcellus Shale in West Virginia.Total revenues for 2013 were $411.3 million, a 28% increase from $320.6 million for 2012. Crude oil, natural gas and NGLs sales revenues increased 51% to $359.4 million in 2013 compared to $238.4 million in 2012. The average sales price, excluding net settlements on derivatives, was $48.37 per barrel of oil equivalent ("Boe") for 2013, compared to $43.42 per Boe for 2012.
PDC Energy Announces 2013 Fourth Quarter And Year-End Results: 35% Annual Production Growth From Continuing Operations And 40% Increase In Crude Oil And NGL Volumes
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