PDC Energy, Inc. announced that the Colorado Oil and Gas Conservation Commission (COGCC) unanimously approved the Company’s Guanella Comprehensive Area Plan (CAP). Which encompasses approximately 33,000 net acres, 22 sites, and around 450 wells in Weld County, Colorado.
The company has a clear vision in line with its turnaround activity well into 2028 at current activity levels. This vision was achieved with CAP-approved locations and its multi-year inventory of projects established in the DJ Basin. Guanella’s CAP supports long-term planning and permitting efforts. The Oil and Gas Development Plan (OGDP) will allow the company to continue the active program. This to maintain a multi-year inventory of projects. And provide operational flexibility to most responsibly develop the 230,000 net acres in the basin.
ESG objectives
President and CEO Bart Brookman commented, “I would like to commend our team members at PDC who have worked diligently and collaboratively with communities and regulators on this Guanella Comprehensive Area Plan application. Today’s unanimous approval is a testament to their work and the working relationship established with COGCC management and staff. We look forward to building on a constructive permitting track record.” The approval reduces the company’s inventory because more than half of the fields are drilled and only pending completion, permitted, or in the permitting process. In addition, the alignment of their CAP development and their continued and their ESG objectives met with thoughtful progress. They commit to electrification and the most protective set of best management practices throughout CAP development. They produce some of the world’s cleanest hydrocarbon molecules from the DJ Basin.
About PDC Energy, Inc.
PDC Energy, Inc. is an exploration and production company that acquires, explores, and develops properties for crude oil, natural gas, and NGLs. They have operations in the Wattenberg field in Colorado, which focus on the Niobrara and Codell horizontal reservoirs, and in the Delaware Basin, they focus on the Wolfcamp zones.
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