PDC Energy Provides Capital Budget, Production Estimates for 2013; Shares Dip 3%


PDC Energy Inc. ( PDCE ) is down 2.2% to $33.72 after the company today reported its capital budget and production estimates for 2013.

The company's capital budget for 2013 is approximately $324 million, including $290 million of development capital and $34 million for leasehold acquisitions, exploration and other expenditures. In addition, PDCE has budgeted approximately $48 million for its 50% share of PDC Mountaineer joint venture.

PDCE estimates its net production volumes for 2013 will be in the range of 55 to 57 billion cubic feet equivalent.

PDCE is trading in a 52-week range of $19.33 - $40.26. Shares have increased 55% in the last 12 months.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: PDCE

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