Reports Q1 revenue $957.67M, consensus $773.31M. president and CEO, Bart Brookman, commented, "Our first quarter operations established a solid foundation for executing on our full-year 2023 plan and marked our most operationally intensive quarter for the year, with four rigs running and three completion crews across our asset base. We began to see the production response from this activity level at the end of the first quarter when total production for March averaged 253,000 Boe per day, and oil production averaged 81,000 Bbls per day. Production continues to ramp up into the second quarter as new wells come online."
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on PDCE:
- PDC Energy, Inc. Announces 2023 First Quarter Financial and Operating Results and Updates Second Quarter Production and Full-Year Capital Guidance
- PDC Energy price target raised to $77 from $70 at Truist
- PDC Energy Announces 2023 First Quarter Conference Call – Thursday, May 4, 2023
- PDC Energy price target raised to $80 from $76 at JPMorgan
- Energy Stocks Hemorrhage as Banking Falters