BNET Industries

Petroleum Development Corp.

(PETD) is in the Energy Industry

Market Cap:$374.6M

Last Fiscal Year Sales:$609.3M

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

120 Genesis Blvd

Bridgeport, West Virginia 26330

petd.com

(304) 842-3597

Peer Companies

NAICS Code Drilling Oil and Gas Wells: 213111

Company News

Recent Events

Global Hunter Securities Upgrades Petroleum Development Corp. PETD to Buy

11/10/09 - Bond / Stock Rating - View Story
Petroleum Development Corporation Announces 2009 Third Quarter Results: Strong Cash Flow from Hedgin

11/05/09 - Financial Announcement - View Story
Petroleum Development, Lime Rock Partners Announce Formation Of PDC Mountaineer, A JV Company

11/02/09 - Joint Venture / Alliance - View Story
PDC, Lime Rock Form JV to Develop Marcellus ...

11/02/09 - Joint Venture / Alliance - View Story
Sun Trust Downgrades Petroleum Development Corp PETD to Neutral

10/15/09 - Bond / Stock Rating - View Story
Petroleum Development names James Trimble to board

9/18/09 - Board Member - Entering - View Story
Petroleum Development Corp elects James M. Trimble to board

9/21/09 - Board Member - Entering - View Story
Morning Movers 8/11: AVNR, RWC, HLCS, ANPI, ANDS, AGM Higher; JAV, BIDZ, PETD, AHR, CIT,...

8/11/09 - Bond / Stock Rating - View Story
Petroleum Development Corporation Announces 2009 Second Quarter Results; Production Volumes Increase 27%, Operating Cost Reductions,...

8/10/09 - Financial Announcement - View Story
Petroleum Development Corporation Announces 2009 Shareholders Meeting Results

6/09/09 - Financial Announcement - View Story

News & Analysis