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    Houston Oil Companies

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    PDC Energy

    NYSE: PDCE

    Profile compiled and reviewed by the Houston Oil Companies Data Team from public filings and company sources.

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    Upstream · DJ & Permian E&P

    PDC Energy

    PDCE

    PDC Energy is an independent exploration and production company focused on the DJ Basin in Colorado and the Permian Basin in West Texas.

    Founded
    1969
    Employees
    900
    Revenue
    $3.8B
    HQ
    Denver, CO (Houston Operations)
    DJ BasinPermian BasinHorizontal DrillingNiobrara Formation

    PDC Energy is an independent exploration and production company with operations in two of the most prolific oil-producing basins in the United States — the DJ Basin in Colorado and the Delaware Basin portion of the Permian in West Texas. The company has established itself as one of the most capital-efficient operators in both basins, generating strong free cash flow and returning significant capital to shareholders. PDC Energy maintains operational and technical staff in Houston to support its development programs. Chevron acquired PDC Energy in 2023.

    Headquarters

    Denver, CO (Houston Operations)

    Founded

    1969

    Employees

    900

    Revenue

    $3.8B

    CEO

    Bart Brookman

    Website

    pdce.com

    History of PDC Energy

    PDC Energy was founded in 1969 as Petroleum Development Corporation and initially focused on natural gas development partnerships. The company transformed itself in the 2000s and 2010s into a pure-play horizontal oil and gas company, building a dominant position in the Wattenberg Field of the DJ Basin. PDC expanded into the Permian Basin through the acquisition of SRC Energy in 2019, creating a two-basin operating platform. The company was acquired by Chevron in 2023.

    Operations & Business Segments

    PDC operated approximately 190,000 net acres in the DJ Basin's Wattenberg Field, targeting the Niobrara and Codell formations, and approximately 25,000 net acres in the Delaware Basin. The company ran multi-rig drilling programs in both basins, leveraging horizontal drilling and modern completion techniques. PDC's DJ Basin operations benefited from long lateral wells and high-density spacing, while its Permian operations targeted the prolific Wolfcamp formation.

    Headquarters Location

    Denver, CO (Houston Operations)

    Key Specialties & Capabilities

    DJ BasinPermian BasinHorizontal DrillingNiobrara FormationFree Cash FlowCapital Efficiency

    Frequently Asked Questions About PDC Energy

    What does PDC Energy do?▾
    PDC Energy is an independent E&P company focused on oil and gas development in the DJ Basin and Permian Basin.
    What happened to PDC Energy?▾
    PDC Energy was acquired by Chevron in 2023, adding significant DJ Basin and Permian Basin assets to Chevron's portfolio.
    Where did PDC Energy operate?▾
    PDC operated in the DJ Basin's Wattenberg Field in Colorado and the Delaware Basin portion of the Permian in West Texas.
    What does PDC Energy do in Houston?▾
    PDC Energy is a upstream company based in Denver, CO (Houston Operations). PDC Energy is an independent exploration and production company focused on the DJ Basin in Colorado and the Permian Basin in West Texas.
    Where is PDC Energy headquartered?▾
    PDC Energy is headquartered in Denver, CO (Houston Operations), founded in 1969. The company operates in Houston's energy corridor as part of the upstream sector.

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