PDC Energy
PDC Energy was an independent US oil and gas exploration and production company headquartered in Denver, focused on horizontal drilling in Colorado's Wattenberg field and acquired following its 2022 purchase of Great Western Petroleum.
- Company typePrivate
- Founded1969
- HeadquartersDenver, United States
- Headcount251–500
- GTM typeB2B
- OfferingServices
What PDC Energy does
PDC Energy was an independent, US-based oil and gas exploration and production company headquartered in Denver, Colorado, founded in 1969 and formerly listed on NASDAQ under the ticker PDCE. The company's stated focus was organic production growth through active horizontal drilling programs, anchored in the Wattenberg field in Colorado. Over the final years of its standalone existence, PDC Energy executed a consolidation-led growth strategy, acquiring SRC Energy in August 2019 for $1.7 billion and announcing the acquisition of Great Western Petroleum in February 2022 for $1.3 billion, with the latter financed through a combination of stock issuance and cash and expected to close in Q2 2022. The Great Western Petroleum transaction was positioned to expand the company's Wattenberg core position and materially enhance reserves, production, and financial metrics.
PDC Energy's core asset base was concentrated in a single liquids-rich basin, giving it operational focus but also tying its economics to commodity prices and midstream takeaway in that region. The company employed 251–500 people and was led by James M. Trimble (President & CEO), Barton R. Brookman (COO), and Lance A. Lauck (EVP, Corporate Development and Strategy). The company was subsequently acquired and delisted from public markets, ending its standalone corporate existence. No pricing, distribution channel, customer segmentation, marketing channel, or product portfolio detail is available beyond the E&P drilling and acquisition activity described above.
The input data does not provide a revenue figure, technology stack, or detailed business model. Based on the disclosed acquisition values and headcount band, the most defensible inference is that PDC Energy operated as a mid-cap independent E&P with revenue in the low single-digit billions prior to its acquisition; the input table labeled as financials contains figures in the trillions that match Chevron Corporation's reported scale and is not attributable to PDC Energy.
PDC Energy firmographics
Firmographics- Name
- PDC Energy
- Legal name
- PDC Energy
- Website
- https://pdce.com
- Company type
- Private
- Founded year
- 1969
- Operating status
- Acquired
- Headcount range
- 251–500 employees
- Short description
- PDC Energy was an independent US oil and gas exploration and production company headquartered in Denver, focused on horizontal drilling in Colorado's Wattenberg field and acquired following its 2022 purchase of Great Western Petroleum.
- Ownership category
- akta.pro rank
PDC Energy industry classification
Industry- Product category
- Oil and Gas Exploration & Production
- NAICS
- Natural Gas Extraction (211130), Crude Petroleum Extraction (21112)
- SIC
- Crude Petroleum & Natural Gas (1311)
- akta.pro primary industry
- Conventional Natural Gas Exploration & Production (Dry Gas) (EUAAAAAA)
Keywords
Where PDC Energy is headquartered
LocationHeadquarters
- HQ city
- Denver
- HQ country
- United States
- HQ region
- North America
Markets served
PDC Energy business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Supply Chain, Personnel, Infrastructure
PDC Energy product offering
Product offeringCore offering
PDC Energy is an independent oil and gas exploration and production company that develops crude oil, natural gas, and natural gas liquids from onshore U.S. acreage, with a primary focus on the Wattenberg core area of the Denver-Julesburg Basin. Its business centers on horizontal drilling programs designed to grow production, alongside strategic acquisitions of complementary upstream assets to expand reserves and scale.
Differentiator
Problem solved
Functional benefit
Products and services
- Crude oil, natural gas, and natural gas liquids production from the Wattenberg / Denver-Julesburg Basin Exploration, development, and production of crude oil, natural gas, and natural gas liquids from onshore U.S. acreage in the Wattenberg / Denver-Julesburg Basin, sold to midstream, marketing, and refining counterparties.
Companies that use PDC Energy
Customer profileIdeal customer profiles1 record
PDC Energy technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
PDC Energy partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Great Western PetroleumcorePDC Energy announced acquisition of Great Western Petroleum for $1.3 billion to expand its Wattenberg core position. The transaction was expected to close in Q2 2022 and was financed through stock issuance and cash. The acquisition was expected to significantly enhance the company's reserves, production, and financial metrics.
Scale indicators1 record
Recent moves4 records
Expansion highlights3 records
PDC Energy competitors and assessment
Company assessmentBroad incumbents
- Pioneer Natural Resources: Pioneer Natural Resources was a Permian-focused independent E&P acquired by ExxonMobil. Comparable as a horizontally-driven, basin-concentrated operator with a strong M&A track record, even though its core is the Permian rather than the DJ Basin.
- EOG Resources: EOG Resources is a large-cap US independent with premier acreage across the Permian, Eagle Ford, and other basins. Comparable as a high-quality unconventional operator that sets the benchmark for horizontal drilling capital efficiency, even though DJ Basin is not a focus area.
- Devon Energy: Devon Energy is a large-cap US independent focused on the Delaware, Eagle Ford, Anadarko, and Williston basins. It is broadly comparable as a scale-leader in horizontal unconventional E&P with a similar multi-basin consolidation approach, though its DJ Basin exposure is more limited.
- Marathon Oil: Marathon Oil operated diversified US unconventional assets in the Eagle Ford, Bakken, and Permian before its acquisition by ConocoPhillips. Comparable as a mid-to-large cap independent E&P with horizontal drilling focus and active M&A history.
Direct peers
- Ovintiv: Ovintiv (formerly Encana) operates significant DJ Basin acreage alongside Permian and Montney positions. It is a direct peer due to overlapping DJ Basin footprint, comparable horizontal development economics, and a similar multi-basin consolidation history.
- Diamondback Energy: Diamondback Energy is a Permian Basin pure-play independent E&P. While basin-different, it is directly comparable in business model: pure-play horizontal unconventional producer pursuing basin-focused consolidation through M&A, with similar stock-and-cash deal structures.
- Chesapeake Energy: Chesapeake Energy is a US natural gas-weighted unconventional producer with core positions in the Marcellus and Haynesville. Comparable as a horizontal drilling pure-play with a consolidation history and similar sensitivities to gas and NGL pricing.
- Civitas Resources: Civitas Resources is the largest pure-play DJ Basin operator, formed from the merger of Bonanza Creek and Extraction Oil & Gas. It is the most direct comparable to PDC Energy given shared Wattenberg/DJ Basin acreage, similar horizontal Niobrara/Codell development program, and overlapping capital allocation philosophy.
- Continental Resources: Continental Resources is a Bakken-focused independent E&P. Comparable in business model and stage - pure-play unconventional operator driving horizontal development in a single core basin - even though the basin itself differs from the DJ Basin.
Others
- Bonanza Creek Energy (predecessor): Bonanza Creek Energy was a DJ Basin pure-play E&P that merged with Extraction Oil & Gas to form Civitas Resources. Relevant as a historical predecessor in the same Wattenberg asset class, illustrating the consolidation pathway that PDC Energy itself pursued.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat2 records
Key risks6 records
Key highlights6 records
Customer concentration
PDC Energy social profiles
Digital presencePDC Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
PDC Energy leadership team
Management profileNumber of profiles
Profiles3 records
PDC Energy funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
PDC Energy M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about PDC Energy
What does PDC Energy do?
PDC Energy is an independent oil and gas exploration and production company that develops crude oil, natural gas, and natural gas liquids from onshore U.S. acreage, with a primary focus on the Wattenberg core area of the Denver-Julesburg Basin. Its business centers on horizontal drilling programs designed to grow production, alongside strategic acquisitions of complementary upstream assets to expand reserves and scale.
When was PDC Energy founded?
PDC Energy was founded in 1969. It employs 251 to 500 people.
Where is PDC Energy based?
PDC Energy is headquartered in Denver, United States, in the North America region.
Who are PDC Energy's main competitors?
Broad incumbents on record are Pioneer Natural Resources, EOG Resources, Devon Energy and Marathon Oil. Direct peers are Ovintiv, Diamondback Energy, Chesapeake Energy, Civitas Resources and Continental Resources. Bonanza Creek Energy (predecessor) is listed as an others.
Does PDC Energy have an API?
No public API is recorded for PDC Energy.
What industry is PDC Energy in?
PDC Energy's product category is Oil and Gas Exploration & Production. Its primary akta.pro industry code is EUAAAAAA, Conventional Natural Gas Exploration & Production (Dry Gas). Its NAICS code is 211130 and its SIC code is 1311.