10 Feb 2021substantial holder notice● Neutral
The Vanguard Group reported a PDC ENERGY, INC. shareholding of 10,254,019 shares (10.29% of votes) in a periodic institutional filing.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
25 Jan 2021substantial holder notice● Neutral
BlackRock, Inc disclosed a new substantial PDC ENERGY, INC. shareholding (16.10% of votes).
12 Jan 2021director interest notice● Neutral
PDC ENERGY, INC. SVP, CFO R Scott Meyers exercised stock options for 9,814 shares and disposed of 14,273 shares.
12 Jan 2021director interest notice● Neutral
PDC ENERGY, INC. EVP, Corp. Dev. & Strategy Lance Lauck exercised stock options for 15,211 shares and disposed of 19,903 shares.
12 Jan 2021director interest notice● Neutral
PDC ENERGY, INC. President and CEO Barton R Brookman Jr. exercised stock options for 42,199 shares and disposed of 54,741 shares.
10 Dec 2020director interest notice● Neutral
PDC ENERGY, INC. director Paul Korus bought 2,500 shares on the open market at $18.63.
30 Nov 2020director interest notice● Neutral
PDC ENERGY, INC. EVP, Corp. Dev. & Strategy Lance Lauck sold 3,498 shares at $18.50.
19 Nov 2020director interest notice● Neutral
PDC ENERGY, INC. President and CEO Barton R Brookman Jr. sold 3,750 shares at $16.93.
12 Nov 2020director interest notice● Neutral
PDC ENERGY, INC. SVP, General Counsel & Sec. Nicole L Martinet sold 264 shares at $15.04.
5 Nov 2020quarterly activities report▼ Bad
PDC ENERGY, INC. reported quarterly revenue of $249.2 million and a net loss of $30.8 million for the period ended 2020-09-30.
5 Nov 2020quarterly activities report▼ Bad
PDC ENERGY, INC. reported quarterly revenue of $249.2 million and a net loss of $30.8 million for the period ended 2020-09-30.
15 Sept 2020debt financing● NeutralMajor
PDC sold an additional $150M of its 5.75% senior notes due May 15, 2026, in a registered offering underwritten by BofA Securities; the sale closed September 15, 2020. These add to the $600M of notes issued in November 2017 under the same indenture and are guaranteed by PDC Permian, so total debt on this series goes up. The filing does not state what the proceeds will be used for.
14 Sept 2020securities registration● Neutral
PDC ENERGY, INC. filed a prospectus supplement for an offering off its existing shelf.
11 Sept 2020securities registration● Neutral
PDC ENERGY, INC. filed a free-writing prospectus - marketing material for an offering in progress.
10 Sept 2020securities registration● Neutral
PDC ENERGY, INC. filed a prospectus supplement for an offering off its existing shelf.
9 Sept 2020director interest notice● Neutral
David Lillo became a PDC ENERGY, INC. SVP, OPERATIONS and company insider (initial ownership filing).
6 Aug 2020quarterly activities report▼ Bad
PDC ENERGY, INC. reported quarterly revenue of $54.4 million and a net loss of $221.8 million for the period ended 2020-06-30.
6 Aug 2020quarterly activities report▼ Bad
PDC ENERGY, INC. reported quarterly revenue of $54.4 million and a net loss of $221.8 million for the period ended 2020-06-30.
5 June 2020business combination● Neutral
PDC filed SRC's financial statements for 2019 and an unaudited pro forma 2019 income statement showing the combined company as if the January 14, 2020 merger had happened on January 1, 2019. It is a follow-up financial-information filing for the completed merger; the excerpt gives no figures and no new deal terms.
15 May 2020director interest notice● Neutral
PDC ENERGY, INC. director Jeffrey C Swoveland bought 7,135 shares on the open market at $10.51.
8 May 2020quarterly activities report▼ Bad
PDC ENERGY, INC. reported quarterly revenue of $757.0 million and a net loss of $465.0 million for the period ended 2020-03-31.
8 May 2020quarterly activities report▼ Bad
PDC ENERGY, INC. reported quarterly revenue of $757.0 million and a net loss of $465.0 million for the period ended 2020-03-31.
27 Feb 2020quarterly activities report▼ Bad
PDC ENERGY, INC. reported quarterly revenue of $265.0 million and a net loss of $21.0 million for the period ended 2019-12-31.
12 Feb 2020substantial holder notice● Neutral
The Vanguard Group reported a PDC ENERGY, INC. shareholding of 6,381,893 shares (10.35% of votes) in a periodic institutional filing.
4 Feb 2020substantial holder notice● Neutral
BlackRock, Inc reported a PDC ENERGY, INC. shareholding of 9,304,514 shares (15.10% of votes) in a periodic institutional filing.
14 Jan 2020asset acquisition disposition● NeutralMajor
On January 14, 2020, PDC completed its merger with SRC Energy, with SRC merging into PDC. Each SRC share became 0.158 of a PDC share (cash for fractions), the terms set out when the deal was announced in August 2019, so the pending merger is now done. PDC took on SRC's $550M 6.25% senior notes due 2025, guaranteed by PDC Permian, and plans an offer to buy them back at 101% of principal. Lynn Peterson and Paul Korus joined PDC's board, as the merger agreement required. PDC had elected a $1.7B credit facility commitment effective at closing, with an option to go up to $1.9B before April 30, 2020, a decision it says will depend partly on how many SRC notes are tendered.
3 Jan 2020business combination● Neutral
PDC and SRC voluntarily added disclosures to the merger proxy statement filed Dec 9, 2019; the special meetings of both companies' holders are set for Jan 13, 2020. The additions explain the merger background, including Colorado regulation (Proposition 112 defeated in Nov 2018, Senate Bill 19-181 enacted April 2019) and that SRC wanted to wait on talks until PDC's proxy contest with Kimmeridge was resolved. PDC expects about $40 million of G&A savings in 2020 and a further $10 million in 2021. Citi's analysis for SRC's advisors put the 0.158 exchange ratio against an implied range of 0.1163x-0.1510x on relative contribution. The filing says the additions are not an admission that they are legally required or material. Deal terms are unchanged.
9 Dec 2019securities registration● Neutral
PDC ENERGY, INC. filed the final prospectus for a registered offering.
13 Nov 2019business combination● Neutral
PDC filed Amendment No. 2 to its S-4 for the SRC merger. The visible text adds a proposal for SRC shareholders to approve adjourning their meeting if more votes are needed. The 0.158 exchange ratio is unchanged and meeting dates are still blank in this version. The rest of the filing was truncated.
7 Nov 2019quarterly activities report● Neutral
PDC ENERGY, INC. reported quarterly revenue of $365.9 million and net income of $15.9 million for the period ended 2019-09-30.