Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

With Strong Wattenberg Results, Utica Could Be Gravy For PDC Energy

The last three months or so haven't been particularly kind to a number of E&P companies, and PDC Energy (NASDAQ:PDCE) is most definitely in that group. While regional rivals like Antero (NYSE:AR) and Bill Barrett (NYSE:BBG) are still in the black over that short span of time (and PDC has done fine over the past year), the recent performance has left a lot to be desired.

Some of the problems with PDC Energy shares can be tied to overheated expectations earlier in the year, coupled with a disappointing third quarter and year-ahead guide. Some of it is also likely due to ongoing mixed data from the companies Utica acreage. Although I don't think the...

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