11 May 2022securities registration● Neutral
PDC ENERGY, INC. filed a prospectus supplement covering resales by selling shareholders.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
9 May 2022asset acquisition disposition● NeutralMajor
On May 6, 2022, PDC completed the Great Western acquisition announced in February, paying $542.5M in cash and issuing 4,007,018 shares to the sellers. PDC borrowed $950M under its revolving credit facility to fund the deal, including paying off Great Western's debt (its credit agreement and its 12% second lien notes due 2025, which were deposited in trust for redemption on May 20, 2022). PDC also took on Great Western's oil and gas hedges and agreed to register the sellers' shares for resale.
5 May 2022quarterly activities report▼ Bad
PDC ENERGY, INC. reported quarterly revenue of $316.4 million and a net loss of $32.0 million for the period ended 2022-03-31.
5 May 2022quarterly activities report▼ Bad
PDC ENERGY, INC. reported quarterly revenue of $316.4 million and a net loss of $32.0 million for the period ended 2022-03-31.
4 May 2022director interest notice● Neutral
PDC ENERGY, INC. President and CEO Barton R Brookman Jr. sold 2,000 shares.
4 May 2022director interest notice● Neutral
PDC ENERGY, INC. SVP, CFO R Scott Meyers sold 1,000 shares at $68.47.
5 Apr 2022director interest notice● Neutral
PDC ENERGY, INC. SVP, CFO R Scott Meyers sold 1,000 shares at $73.14.
5 Apr 2022director interest notice● Neutral
PDC ENERGY, INC. CAO Douglas J Griggs acquired 6,763 shares and disposed of 4,101 in a set of related equity transactions.
5 Apr 2022director interest notice● Neutral
PDC ENERGY, INC. SVP, OPERATIONS David Lillo had 5,583 shares withheld for taxes on vesting stock.
5 Apr 2022director interest notice● Neutral
PDC ENERGY, INC. President and CEO Barton R Brookman Jr. sold 2,000 shares.
17 Mar 2022director interest notice● Neutral
PDC ENERGY, INC. director Lynn A Peterson sold 5,000 shares.
10 Mar 2022director interest notice● Neutral
PDC ENERGY, INC. SVP, OPERATIONS David Lillo sold 3,618 shares at $67.88.
7 Mar 2022director interest notice● Neutral
PDC ENERGY, INC. SVP, General Counsel & Sec. Nicole L Martinet sold 3,342 shares at $67.68.
7 Mar 2022director interest notice● Neutral
PDC ENERGY, INC. President and CEO Barton R Brookman Jr. exercised stock options for 26,410 shares and disposed of 47,716 shares.
7 Mar 2022director interest notice● Neutral
PDC ENERGY, INC. director David C Parke disposed of 2,000 shares.
7 Mar 2022director interest notice● Neutral
PDC ENERGY, INC. EVP, Corp. Dev. & Strategy Lance Lauck exercised stock options for 20,192 shares and disposed of 38,936 shares.
2 Mar 2022director interest notice● Neutral
PDC ENERGY, INC. President and CEO Barton R Brookman Jr. sold 2,000 shares.
2 Mar 2022director interest notice● Neutral
PDC ENERGY, INC. SVP, CFO R Scott Meyers sold 1,000 shares at $65.72.
1 Mar 2022director interest notice● Neutral
PDC ENERGY, INC. SVP, General Counsel & Sec. Nicole L Martinet had 6,774 shares withheld for taxes on vesting stock.
1 Mar 2022director interest notice● Neutral
PDC ENERGY, INC. EVP, Corp. Dev. & Strategy Lance Lauck had 10,496 shares withheld for taxes on vesting stock.
1 Mar 2022director interest notice● Neutral
PDC ENERGY, INC. SVP, CFO R Scott Meyers had 10,585 shares withheld for taxes on vesting stock.
1 Mar 2022director interest notice● Neutral
PDC ENERGY, INC. President and CEO Barton R Brookman Jr. had 21,587 shares withheld for taxes on vesting stock.
1 Mar 2022director interest notice● Neutral
PDC ENERGY, INC. SVP, OPERATIONS David Lillo had 1,879 shares withheld for taxes on vesting stock.
28 Feb 2022capital raising announcement▲ GoodMajor
On February 26, 2022, PDC agreed to buy Great Western Petroleum, a Denver-based DJ Basin operator, for $542.5M in cash plus 4,007,018 new PDC shares, so existing shareholders will be diluted by the share issuance. The deal needs antitrust (HSR) clearance and has an outside date of June 30, 2022 (extendable to July 29). The press release values it at about $1.3B including roughly $500M of net debt, expects a second-quarter close, and says funding will come from cash and credit facility borrowings. It also raises the quarterly dividend to $0.25 per share, with a $0.35 per-share increase expected on closing, and lifts the buyback authorization to $1.25B. This is a new acquisition in the same Wattenberg area as PDC's existing business.
23 Feb 2022director interest notice● Neutral
PDC ENERGY, INC. SVP, CFO R Scott Meyers had 2,860 shares withheld for taxes on vesting stock.
23 Feb 2022director interest notice● Neutral
PDC ENERGY, INC. SVP, General Counsel & Sec. Nicole L Martinet had 1,184 shares withheld for taxes on vesting stock.
23 Feb 2022director interest notice● Neutral
PDC ENERGY, INC. EVP, Corp. Dev. & Strategy Lance Lauck had 3,353 shares withheld for taxes on vesting stock.
23 Feb 2022director interest notice● Neutral
PDC ENERGY, INC. President and CEO Barton R Brookman Jr. had 8,677 shares withheld for taxes on vesting stock.
17 Feb 2022director interest notice● Neutral
PDC ENERGY, INC. director Lynn A Peterson sold 5,000 shares.
17 Feb 2022director interest notice● Neutral
PDC ENERGY, INC. SVP, CFO R Scott Meyers received 16,697 shares and a 16,697-share option grant as part of the equity award.