PDC Energy

Transaction Type
Sellers
Marketers
Basin
Permian
Post Date
Close Date
Estimated Price
MM
Description

PDC Energy has retained BMO Capital Markets to sell certain Permian Basin assets in the Texas Wolfberry trend area.

The package includes an average 97% working interest in 10,722 gross acres (10,184 net) in the western Wolfberry in Andrews, Martin, Ector and Midland counties. The assets are 100% operated and include 46 producing wells in the Andrews, Mabee, Ratliff and Roy Parks areas. Approximately 61% of the acreage is held by production.

Production is 1,200 barrels of oil equivalent per day (90% liquids). Proved reserves are 22.7 million barrels equivalent (2.8 million proved developed producing) and proved and probable reserves are 47.3 million barrels equivalent.

Bids are due in mid-January. The data room opens Dec. 7. Contact Miles Redfield, 713-546-9715, miles.redfield@bmo.com.