DENVER, Nov. 14, 2017 (GLOBE NEWSWIRE) — PDC Energy, Inc. (“PDC” or the “Company”) (Nasdaq:PDCE) today announced that, subject to market conditions, the Company is planning a private offering of $600 million in aggregate principal amount of its senior unsecured notes due 2026 (the “Notes”). PDC intends to use the net proceeds from the offering (i) to redeem its 7.75% senior notes due 2022, (ii) to fund a portion of the purchase price of the previously announced acquisition of certain properties owned by Bayswater Exploration & Production, LLC and certain related parties, and (iii) for general corporate purposes.
This press release is neither an offer to sell nor the solicitation of an offer to buy the Notes or any other securities. The Notes will be offered in the United States only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States in reliance on Regulation S under the Securities Act. The Notes have not been registered under the Securities Act and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements.
About PDC Energy, Inc.
PDC Energy, Inc. is a domestic independent exploration and production company that produces, develops, and explores for crude oil, natural gas, and NGLs, with primary operations in the Wattenberg Field in Colorado and the Delaware Basin in Reeves and Culberson Counties, Texas. The Company also has operations in the Utica Shale in Southeastern Ohio, which it plans to divest. PDC’s operations are focused in the horizontal Niobrara and Codell plays in the Wattenberg Field and in the Wolfcamp zones in the Delaware Basin.