Press release from GlobeNewswire (a Nasdaq OMX company)
PDC Energy Provides Wattenberg Operations Update
Monday, September 16, 2013
PDC Energy Provides Wattenberg Operations Update14:24 EDT Monday, September 16, 2013
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.
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