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PDC Energy, Inc. (Nasdaq: PDCE) has announced plans to hold a conference call to review its first quarter 2023 operating and financial results. A news release will be issued after the market closes on May 3, 2023, with additional materials available on the company’s website. The conference call will occur on May 4, 2023, at 11:00 a.m. ET, and registration for participation is required. A replay of the webcast will be accessible two hours after the call and archived for six months.
PDC Energy focuses on the exploration and production of crude oil, natural gas, and NGLs, primarily in the Wattenberg Field in Colorado and the Delaware Basin in Texas. The company specializes in horizontal plays including the Niobrara, Codell, and Wolfcamp zones.
PDC Energy reported its financial results for Q4 and FY 2022, highlighting a total production of 22.7 million barrels of oil equivalent in Q4 and a full-year production of 85.0 million barrels. The company's net cash from operating activities was approximately $690 million for Q4 and approximately $2.8 billion for the full year, with adjusted free cash flow of $260 million and $1.4 billion, respectively. PDC returned $1.0 billion to shareholders through share repurchases and dividends. The company reduced debt by approximately $80 million, exiting the year with $1.3 billion in long-term debt. The COGCC approved PDC's comprehensive area plan for future projects.
PDC Energy, Inc. (PDCE) has announced a quarterly cash dividend increase from $0.35 to $0.40 per share, payable on March 16, 2023, to stockholders of record by March 2, 2023. This marks the second annual increment since the dividend inception in 2021. Additionally, PDC has authorized an incremental $750 million to its existing $1.25 billion share repurchase program, raising total authorization to $2.0 billion. The Company aims to return a minimum of 60% of annual post-base dividend adjusted free cash flow to shareholders through share buybacks and potential special dividends.
PDC Energy plans to host a conference call on February 23, 2023, at 11:00 a.m. ET to discuss its fourth quarter and full-year 2022 operating and financial results. A news release will be issued after the market close on February 22, 2023. Interested participants can register for the call via the company's website. A replay of the webcast will be available following the call and archived for six months. PDC Energy focuses on the exploration and production of crude oil, natural gas, and NGLs, with operations in the Wattenberg Field in Colorado and the Delaware Basin in Texas.
PDC Energy announced that the Colorado Oil and Gas Conservation Commission approved its Guanella Comprehensive Area Plan (CAP), which includes 33,000 net acres and 450 wells in Weld County, Colorado. This approval enhances PDC’s long-term planning and development strategy, with visibility into operational activities extending into 2028. The company is positioned to actively pursue oil and gas development while maintaining its Environmental, Social, and Governance (ESG) commitments, ultimately ensuring the responsible extraction of hydrocarbons in the DJ Basin.
PDC Energy has declared a special dividend of $0.65 per share alongside a quarterly cash dividend of $0.35, payable on December 28, 2022, to shareholders of record on December 19, 2022. For 2022, PDC plans to return approximately $1 billion to shareholders via dividends and share repurchases, having returned about $925 million so far this year. The company continues to execute its share repurchase program, with $1.25 billion authorized for buybacks. CFO Scott Meyers highlighted the commitment to return over 60% of free cash flow to shareholders.
