PDC Energy’s $150 Million Notes Offering

Davis Polk advised the representative of the underwriters in connection with the offering.

PDC Energy, Inc. executed an offering of $150 million aggregate principal amount of its 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 advising BofA Securities, Inc., as representative of the several underwriters, included partner Derek Dostal (Picture) 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.

Involved fees earner: Loyti Cheng – Davis Polk & Wardwell; Michael Comstock – Davis Polk & Wardwell; Derek Dostal – Davis Polk & Wardwell; Shay Moyal – Davis Polk & Wardwell; Kiara Rankin – Davis Polk & Wardwell; Chris Van Buren – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Bank of America Securities;

Author: Ambrogio Visconti