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PDC Energy (PDCE +15%) pops after beating Q4 revenue estimates this morning. Net losses came in...

PDC Energy (PDCE +15%) pops after beating Q4 revenue estimates this morning. Net losses came in below consensus however, due largely to higher exploration and interest expenses. The company also reported better results in the second testing of its Utica shale well, as boe equivelant estimates proved higher than the prior test.
Comments (1)
  • MHR's Utica acreage is very close to PDCE's Stiers 3-well HZ Pad, and the Garvin 1H well planned for April. Results from these wells may front run results from MHR, but if PDCE's other results are any indication, wells in this area should average IP's of about 2000 boepd and be about 75% liquids. All the Utica players in this window GPOR and PDCE are showing results from are buys, imo.
    27 Feb 2013, 02:46 PM Reply Like
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