Pdc Energy, Inc. Completes Great Western Acquisition
05/06/22, 9:32 PM
Industry
natural resources
energy
PDC Energy, Inc. (NASDAQ: PDCE) (“PDC” or the “Company”) today announced that it has completed its acquisition of Great Western Petroleum, LLC (“Great Western”), a privately held company based in Denver. The acquisition was previously announced on February 28, 2022. The consideration paid was $543 million (less $50 million previously placed into escrow) and approximately 4 million shares of PDC common stock. In addition, the Company paid off the Great Western secured credit facility totaling $235 million and $312 million in principal amount of Great Western’s 12% senior secured notes due 2025.
Company Info
Company info
PDC Energy, Inc. is a domestic independent exploration and production company that acquires, produces, develops, and explores for crude oil, natural gas, and NGLs, with operations in the Wattenberg Field in Colorado and in the Delaware Basin in West Texas. Its operations are focused on the liquid-rich horizontal Niobrara and Codell plays in the Wattenberg Field and the liquid-rich Wolfcamp zones in the Delaware Basin.
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