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Thursday, May 21, 2015

PDC Energy May Resume Utica Shale Drilling Earlier Than Expected

From Columbus Business First:
PDC Energy Inc. (NASDAQ: PDCE) suspended its Ohio oil and gas drilling operations in December because it saw better economics in the shale field closer to its Denver home. 
Now, based on positive results from the wells it already drilled in the Utica shale play, PDC could bring back a rig sooner than expected. The company told analysts this month that its Dynamite well pad in southeastern Guernsey County is outperforming cost and production projections.

“The Dynamite continues to, I think, surprise us,” said Scott Reasoner, PDC’s senior vice president of operations. 
The company has high hopes for another wellpad north of the Dynamite pad that is set to start production.
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