Petroleum Development Corp.

• Public
• US

Dow Jones Description

Petroleum Development Corporation (PDC) (NASDAQ GSM:PETD) is an independent oil & gas producer engaging in exploratory and development drilling, acquiring producing properties, and natural gas marketing operations. Although PDC started as a small, public Appalachian Basin oil and gas company in 1969, we have become much more than that in recent years. Our production, revenues, and profitability have grown substantially and steadily. In 2002, PDC was named one of the 100 "Fastest Growing Companies" by Fortune Small Business. During 2003, we became one of the companies comprising the Russell 3000 index of the 3000 largest public companies in the United States as measured by market capitalization. In 2004 we were added to the S&P 600 Small Cap index. PDC was included in the new NASDAQ Global Select Market in 2006. The growth that made such recognition possible has resulted from a unique business model that has allowed the company to grow revenue, net income, reserves and production much more rapidly than our competitive peers. Our success has been fueled by growth outside our Appalachian home, first in the Michigan Basin and more recently in the Rocky Mountains. Currently, PDC's drilling and production operations are in the Rocky Mountains, Appalachian Basin, and Michigan. Approximately 80% of PDC's production is natural gas, and almost 80% of total production is provided by the Rockies operating area. ...

Number of Employees 317

Contact Information

Peer Companies

• Schlumberger Ltd.
• Halliburton Co.
• BJ Services Co.
• Nabors Industries Ltd.
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