Petroleum Development Corporation (PDC) is an independent energy company engaged in the exploration, development, production and marketing of oil and natural gas. During the year ended December 31, 2008, the Company owned interests in approximately 4,712 gross, 3,259 net, wells located primarily in the Rocky Mountain Region and the Appalachian and Michigan – more... Basins with 753 billion cubic feet equivalent (Bcfe), of net proved reserves, of which 88% was natural gas and 12% was oil. During 2008, the production for the Company was 38.7 Bcfe, averaging 106.1 millions of cubic feet equivalent (MMcfe) per day. The Company operates in four business segments: oil and gas sales, natural gas marketing activities, well operations and pipeline income, and oil and gas well drilling operations.
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