PDC Energy announces COGCC approval of Guanella CAP

PDC Energy announced that the Colorado Oil and Gas Conservation Commission, or COGCC, unanimously approved, with support of PDC’s efforts, the company’s Guanella Comprehensive Area Plan, or CAP, which encompasses approximately 33,000 consolidated net acres, 22 locations and approximately 450 wells in Weld County, Colorado. The Guanella CAP further supports the company’s long-term planning and permitting efforts. With the CAP approved locations and our previously established multi-year inventory of projects in the DJ Basin, the company has clear line of sight into its turn in line activity well into 2028 at current activity levels. The company expects to continue an active Oil & Gas Development Plan, or OGDP, permitting program to maintain a multi-year inventory of projects and provide operational flexibility to most responsibly develop our 230,000 net acres in the Basin.