PDC Energy Announces its Updated 2022 Guidance and Multi-Year Outlook, Raises its Free Cash Flow and Return of Capital Projections
PDC Energy, Inc. (PDCE)
Last pdc energy, inc. earnings: 2/26 04:30 pm
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US:NASDAQ Investor Relations:
investor.pdce.com/presentations.cfm
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Source: GlobeNewswire
DENVER, May 27, 2022 (GLOBE NEWSWIRE) -- PDC Energy, Inc. (“PDC” or the “Company”) (Nasdaq:PDCE) today provided its updated 2022 guidance after closing the Great Western Petroleum acquisition earlier this month along with its updated multi-year outlook. The updated 2022 guidance is provided in the table below and shown comparatively to our initial pro forma projections provided earlier this year when the Company announced the acquisition. Updated 2022 Guidance Highlights Initial Outlook on February 28, 2022Updated Guidance on May 26, 2022Operational Total Oil and Gas Production (Mboe/d)225-240235-250Oil Production (Mbbl/d)74-8178-83Oil and Gas Capital Investments (millions)$900-$1,000$950-$1,000 Financial Commodity Price Assumption (NYMEX Oil & Gas, NGL)$75/$4/$27.50$95/$6/$36.50Adjusted Free Cash Flow (“FCF”)1 (billions)$1,300$1,700Total Return of Capital (millions)$800+$1,000+ Balance Sheet Year End 2022 Net Leverage Ratio0.7x0.4x
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