PDC Energy - 2010-12-01

Closed public offering of 3.6 million shares of common stock at $32 per share, an additional 540,000 shares purchased by the underwriters. Net proceeds will be used along with other proceeds to pay borrowings under the company's credit facility used to fund an acquisition of additional assets in the Wolfberry trend in the West Texas Permian Basin; to fund its acquisitions of the 2004 and 2005 drilling partnerships; and for general corporate purposes, including drilling capital expenditures. Wells Fargo Securities and BofA Merrill Lynch are joint book-running managers.