PDC Energy: This Shale Oil Driller Is Worth Considering [Seeking Alpha]
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: Seeking Alpha
SummaryPDC Energy has brought its CapEx budget for 2020 down to $550 million and will significantly reduce drilling activity which will drive a 20% drop in oil production.PDC Energy has hedged around 70% of this year's oil production at attractive prices which will allow the company to generate strong levels of cash flows.PDC Energy likely carries $1.8 billion of debt, with a decent D/E ratio of 67% (est.), and has $1.1 billion of liquidity.PDCEImage courtesy ofPixabayPDC Energy initiated the takeover of SRC Energy last year in an all-stockdealsaid thecompletedPDC Energy originallyplanned tospend justFor the full year, the company is now expecting a 10% decrease in total production driven by 20% decrease in oil production on a pro-forma basis. As a reminder, PDC EnergyproducedThe plunge in oil prices combined with the double-digit drop in production will push PDC Energy's earnings and cash flows substantially lower in 2020 from last year on a pro forma basis. But that's also true for
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