Chevron Corp. has completed its previously announced acquisition of PDC Energy Inc.’s 275,000-acre positions in the Denver-Julesburg Basin (D-J Basin) and 25,000 net acres in the Delaware Basin, the company said in an Aug. 7 press release. (Source: Shutterstock.com)
Chevron Corp. has completed its previously announced acquisition of PDC Energy Inc.’s 275,000-acre positions in the Denver-Julesburg Basin (D-J Basin) and 25,000 net acres in the Delaware Basin, the company said in an Aug. 7 press release.
The acquired assets include acreage positions adjacent to the company’s existing operations in the D-J Basin and will add more than 1 Bboe proved reserves. The deal also adds PDC’s 25,000 net acres in the Permian Basin’s Delaware, which are HBP, according to the release.
Bruce Niemeyer, Chevron’s president for America’s Exploration & Production said Chevron welcomes PDC Energy into the fold.
“Our companies have similar cultures, with a focus on safe and reliable operations, teaming to deliver results, and benefiting the communities where we operate. PDC’s high-quality assets open up even greater opportunities in important U.S. basins where Chevron already has a strong presence,” Niemeyer said.
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