(Source: Shutterstock.com)
PDC Energy, Inc.’s Guanella comprehensive area plan (CAP) was unanimously approved by the Colorado Oil and Gas Conservation Commission (COGCC), clearing the way for PDC’s long term planning, PDC announced in a press release on Dec. 8.
PDC Energy’s Guanella CAP encompasses 22 locations and approximately 33,000 consolidated net acres and 450 wells in the Denver-Julesburg (DJ) Basin’s Weld County, Colorado.
The company plans to continue an Oil and Gas Development Plan (OGDP) permitting program to maintain a reserve of long-term projects and provide operational flexibility to oversee 230,000 net acres in the basin.
The COGCC regulates the development and production of Colorado’s NOG resources.
“With approximately 2,000 highly economic remaining locations identified in our DJ Basin inventory, today’s approval materially de-risks our inventory as we now have more than half of these locations already drilled and awaiting completion, permitted or actively in the permitting process,” said Bart Brookman, PDC Energy president and CEO.
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