PDC Energy Announces Preliminary Results of Annual Meeting of Shareholders

  • May 30, 2019
  • EIN

DENVER, May 29, 2019 (GLOBE NEWSWIRE) -- PDC Energy, Inc. (“PDC” or “the Company”) (Nasdaq: PDCE) announced today that, based on the preliminary vote count provided by its proxy solicitor following the Company’s 2019 Annual Meeting of Stockholders, PDC shareholders have voted to re-elect Barton R. Brookman, Mark E. Ellis, and Larry F. Mazza to the Company’s Board of Directors.

On behalf of the PDC Energy Board and management team, we thank our shareholders for their strong support. We greatly appreciate the thoughtful and constructive feedback we received throughout this process and look forward to continued engagement to advance our shared goal of creating value.

We are pleased shareholders remain confident in our team and operating plan focused on capital discipline, free cash flow generation, profitable growth, and return of capital to shareholders. We look forward to capitalizing on the Company’s high-quality assets and operational capabilities to deliver superior returns for investors and create long-term, sustainable value.

The preliminary results indicate that shareholders approved all other proposals considered at the Company’s Annual Meeting, including, on an advisory basis, the compensation of the Company’s named executive officers and the ratification of PricewaterhouseCoopers, LLP as PDC Energy’s independent auditor.

The Company will file preliminary voting results with the Securities and Exchange Commission on a Form 8-K within four days of the Annual Meeting and will file final voting results on a Form 8-K/A once they are certified by the independent inspector of elections.

PDC Energy, Inc. is a domestic independent exploration and production company that acquires, explores and develops properties for the production of crude oil, natural gas and NGLs, with operations in the Wattenberg Field in Colorado and the Delaware Basin in Reeves and Culberson Counties, Texas. PDC’s operations are focused in the horizontal Niobrara and Codell plays in the Wattenberg Field and in the Wolfcamp zones in the Delaware Basin.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 ("Securities Act"), Section 21E of the Securities Exchange Act of 1934 ("Exchange Act") and the United States ("U.S.") Private Securities Litigation Reform Act of 1995 regarding our business, strategy, and prospects. All statements other than statements of historical fact included in and incorporated by reference into this report are "forward-looking statements." Words such as expect, anticipate, intend, plan, believe, seek, estimate and similar expressions or variations of such words are intended to identify forward-looking statements herein. Although forward-looking statements contained in this press release reflect our good faith judgment, such statements can only be based on facts and factors currently known to us. Forward-looking statements are always subject to risks and uncertainties, and become subject to greater levels of risk and uncertainty as they address matters further into the future. Because such statements relate to events or conditions further in the future, they are subject to increased levels of uncertainty.

Further, we urge you to carefully review and consider the cautionary statements and disclosures, specifically those under the heading "Risk Factors," made in our Annual Report on Form 10-K for the year ended December 31, 2018 filed with the U.S. Securities and Exchange Commission ("SEC") on February 28, 2019, and other filings with the SEC for further information on risks and uncertainties that could affect our business, financial condition, results of operations and prospects, which are incorporated by this reference as though fully set forth herein. We caution you not to place undue reliance on the forward-looking statements, which speak only as of the date of this press release. We undertake no obligation to update any forward-looking statements in order to reflect any event or circumstance occurring after the date of this press release or currently unknown facts or conditions or the occurrence of unanticipated events. All forward-looking statements are qualified in their entirety by this cautionary statement.

Investors

Michael Edwards

Senior Director Investor Relations

303-860-5820

[email protected]

Media

Joele Frank, Wilkinson Brimmer Katcher

Andy Brimmer / Andrew Siegel

212-355-4449