Piceance, other Colorado assets go to Caerus

摘要

PDC Energy Inc. (Nasdaq: PDCE) has sold its Piceance and other noncore Colorado holdings to Caerus Oil and Gas LLC for $185 million. The assets are about 99% natural gas and include an estimated 85 Bcfe of net proved developed producing reserves as of Dec. 31, 2012. The assets produced approximately 40 MMcfe (net) of natural gas per day in first-quarter 2013. The effective date for the transaction, which was initially announced in February, is Jan. 1.