PDC, SRC Energy to merge, creating second-largest Weld County O&G operator

DENVER — Denver-based oil companies PDC Energy Inc. (Nasdaq: PDCE) and SRC Energy Inc. (NYSEAMERICAN: SRCI) are merging in a deal estimated at about $1.7 billion.

The two companies plan to merge in an all-stock deal, creating a company that controls about 182,000 acres in Weld County, according to filings with the U.S. Securities and Exchange Commission Monday.

The merger would create the second-largest producer of oil and gas in the Denver-Julesberg Basin at approximately 166 million barrels of oil and gas equivalents daily, but would still be dwarfed by Occidental Oil Corp., (NYSE: OXY) which…