Brief: PDC Energy Reports Q1 Loss Per Share Of $4.94

PDC Energy

07/05/2020 23:42

May 7 (Reuters) - PDC Energy Inc  PDCE.O :
    * PDC ENERGY ANNOUNCES 2020 FIRST QUARTER RESULTS AND
PROVIDES
PROJECTED 2020 GUIDANCE
    * Q1 LOSS PER SHARE $4.94
    * Q1 EARNINGS PER SHARE ESTIMATE $0.03 -- REFINITIV IBES
DATA
    * TOTAL PRODUCTION OF 16.8 MILLION BARRELS OF OIL EQUIVALENT
OR
APPROXIMATELY 185,000 BOE PER DAY IN QUARTER
    * TOTAL OIL PRODUCTION OF 5.9 MILLION BARRELS OR NEARLY
65,000
BBLS PER DAY IN QUARTER
    * ANTICIPATED OIL AND GAS CAPITAL INVESTMENTS BETWEEN $500
AND
$600 MILLION FOR 2020
    * PDC ENERGY - SEES 2020 TOTAL PRODUCTION OF 170,000 TO
180,000
BOE PER DAY WITH EXPECTED OIL PRODUCTION AVERAGING BETWEEN
60,000 AND 65,000 BBLS PER DAY
    * ANTICIPATE GENERATING MORE THAN $125 MILLION OF FREE CASH
FLOW
IN 2020
    * PRELIMINARY 2021 OUTLOOK CONTEMPLATES TOTAL CAPITAL
INVESTMENT
BETWEEN $500 MILLION AND $600 MILLION
    * PROJECTS TO GROW BOTH TOTAL AND OIL PRODUCTION IN 2021 BY
FIVE
TO TEN PERCENT COMPARED TO 2020
    * QTRLY TOTAL REVENUES $757.0 MILLION VERSUS    $134.5
MILLION

Source text for Eikon:  ID:nGNX1sKhtX 
Further company coverage:  PDCE.O 

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