PDC Energy Announces Upsizing And Pricing Of Common Stock Offering

DENVER, Aug. 5, 2013 (GLOBE NEWSWIRE) -- PDC Energy, Inc. ("PDC" or the "Company") (Nasdaq:PDCE) today announced that it has priced and upsized a public offering from 3,750,000 to 4,500,000 shares of its common stock for total gross proceeds (before underwriter's compensation and estimated expenses) of $243 million. BofA Merrill Lynch acted as the sole underwriter of the offering and has offered the shares at prevailing market prices or otherwise from time to time through the NASDAQ Global Select Market, in the over-the-counter market, through negotiated transactions or otherwise. The Company has granted the underwriter an option for 30 days to purchase up to an additional 675,000 shares of the Company's common stock to cover over-allotments, if any. The offering is expected to close on or around August 9, 2013.

The offering is being made pursuant to an effective shelf registration statement. The offering may be made only by means of a prospectus supplement and the accompanying prospectus, copies of which may be obtained by sending a request to: BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department, email: dg.prospectus_requests@baml.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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.

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