PDC Energy, Inc. $150 Million Notes Offering

Davis Polk advised the representative of the underwriters in connection with a registered offering of $150 million aggregate principal amount of PDC Energy, Inc.’s 5.750% senior notes due 2026. PDC Energy, Inc. intends to use the net proceeds from this offering for general corporate purposes which may initially include repayment of amounts outstanding under their revolving credit facility.

PDC Energy, Inc. is a domestic independent exploration and production company that acquires, produces, develops and explores for crude oil, natural gas and NGLs, with operations in the Wattenberg Field in Colorado and in the Delaware Basin in West Texas. Its operations are focused on the liquid-rich horizontal Niobrara and Codell plays in the Wattenberg Field and the liquid-rich Wolfcamp zones in the Delaware Basin.

The Davis Polk capital markets team included partner Derek Dostal and associate Chris Van Buren. Counsel Kiara L. Rankin and associate Shay Moyal provided tax advice. Counsel Loyti Cheng and associate Michael Comstock provided environmental advice. All members of the Davis Polk team are based in the New York office.