PDC Energy Turns a Profit in 1Q15, Utica Production Up

In 2014 PDC Energy sold off its 141,000 of Marcellus Shale leases to Mountaineer Keystone for $500 million (see Major New Player in the Marcellus Emerges: Mountaineer Keystone). However, PDC kept its Utica Shale acreage, although they aren’t drilling any new wells in the Utica for the time being (see PDC Energy Pushes Pause Button on OH Utica Drilling for 2015). PDC continues, for now, to focus on the Wattenberg field in northern Colorado. They must be doing something right because the company seems to be one of the few shale drillers to turn a profit in 1Q15…

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