PDC swings to $54M profit
PDC Energy Inc. (Nasdaq: PDCE) earned $54 million during the third quarter, up from a loss of $16 million during the same quarter a year earlier.
Denver-based PDC Energy, which drills oil and natural-gas wells in Weld County, missed analyst expectations despite the higher earnings. Company shares fell 7 percent to $39.51.
The company posted revenue of $224.6 million during the third quarter, up from $71.8 million during the same quarter last year.
SPONSORED CONTENT
Select your Republic Services residential cart now!
In preparation for Republic Services becoming the primary provider of residential recycling, yard trimmings, and trash, residents should now select the best cart size and service schedule for their household needs.
PDC Energy increased its third-quarter production by 60 percent to 25,600 barrels of oil equivalent per day in the Wattenberg field in Northern Colorado and in the Utica shale formation in Ohio.
PDC Energy Inc. (Nasdaq: PDCE) earned $54 million during the third quarter, up from a loss of $16 million during the same quarter a year earlier.
Denver-based PDC Energy, which drills oil and natural-gas wells in Weld County, missed analyst expectations despite the higher earnings. Company shares fell 7 percent to $39.51.
The company posted revenue of $224.6 million during the third quarter, up from $71.8 million during the same quarter last year.
PDC Energy increased its third-quarter production by 60 percent to 25,600 barrels of oil equivalent per day in the Wattenberg field in Northern Colorado and in the Utica shale formation…
THIS ARTICLE IS FOR SUBSCRIBERS ONLY
Continue reading for less than $3 per week!
Get a month of award-winning local business news, trends and insights
Access award-winning content today!
