PDC Energy rises on approval for Spinney development plan

PDC Energy

07/10/2021 16:37

** Shares of oil and gas producer PDC Energy Inc  PDCE.O 
rise 2.4% to $46.05
    ** Co says Colorado Oil and Gas Conservation Commission has
approved the permit application for its Spinney Oil & Gas
Development Plan  urn:newsml:reuters.com:*:nGNX6C0F1s
    ** The Spinney, an eight-well pad in rural Weld County,
Colorado, marks PDCE's first approved permit under the new
rules, which were enacted in January 2021
    ** See the news as a solid step in the right direction -
Tudor, Pickering, Holt & Co
    ** At least two brokerages raise PT on PDCE
    ** PDEC up 124.5% so far this year 

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94))