Reports Q4 revenue $879.505M, consensus $847.21M. President and Chief Executive Officer, Bart Brookman, commented, "Execution in 2022 helped expand the foundation of PDC’s continued long-term success in creating value for its shareholders. The Great Western transaction early in the year increased our inventory of top tier opportunities in the core Wattenberg Field. Last year we also gained confidence in the long-term development of our drilling programs with the COGCC’s unanimous approval of the Guanella CAP. PDC achieved these major 2022 milestones while simultaneously returning $1 billion of free cash flow to shareholders. We exited the year with approximately 1.1 billion barrels equivalent of proved reserves, a rock-solid balance sheet and a durable inventory of projects capable of driving a sustainable production growth profile for years to come."
Published first on TheFly
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