DENVER, July 12, 2012 (GLOBE NEWSWIRE) -- PDC Energy, Inc. ("PDC," or the "Company") (Nasdaq:PETD) today reported the Company intends to change its ticker symbol to 'PDCE' on the NASDAQ Global Select Market. The change will be effective on Monday, July 16, 2012. Formerly listed as 'PETD', the ticker symbol change to 'PDCE' completes the final step in the Company's rebranding to PDC Energy, Inc. The legal name change from Petroleum Development Corporation to PDC Energy, Inc. was approved by the Company's shareholders at its annual meeting of stockholders held on June 7, 2012.
Also, in conjunction with the ticker symbol change, the Company's website address will change to 'www.pdce.com.'
James Trimble, President and Chief Executive Officer, stated, "The realignment to PDCE is a welcomed change within our Company. This is the next step in our ongoing redefinition of the Company's image and structure away from the old partnership-sponsor model and toward a more traditional E&P company. We are proud to distinguish ourselves as PDC Energy and these additional changes demonstrate our commitment to the transition."
Upcoming Conference Presentations
PDC is scheduled to present at EnerCom's Oil & Gas Conference in Denver, Colorado on Tuesday, August 14, 2012. Please see the Company's website at www.petd.com for full details and webcast information.
About PDC Energy
PDC Energy is a domestic independent exploration and production company that acquires, develops, explores, and produces natural gas, NGLs, and crude oil. The Company's Western Operating Region is primarily focused on development in the Wattenberg Field in Colorado, particularly in the liquid-rich horizontal Niobrara play and on the ongoing development of refracture/recompletion of PDC's existing Wattenberg vertical wells. In the Company's Eastern Operating Region, PDC is focused on horizontal development in the Marcellus Shale in northern West Virginia, and recently initiated exploration and development activity in the liquid-rich portion of the Utica Shale play in Ohio. PDC is included in the S&P SmallCap 600 Index and the Russell 3000 Index of Companies.
NOTE REGARDING FORWARD-LOOKING STATEMENTS
The matters set forth in this press release, including statements with respect to the rebranding and PDC's or its management's expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The words "believe," "expect," "should," "could," "estimates," and other similar expressions identify forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. PDC urges you to carefully review and consider the cautionary statements made in this press release, the Item 1-A Risk Factors in the 2011 annual report on Form 10-K for the year ended December 31, 2011, filed with the Securities and Exchange Commission ("SEC") on March 1, 2011, and other subsequent filings with the SEC for further information on risks and uncertainties that could affect the Company's business, financial condition and results of operations, which are incorporated by this reference as though fully set forth herein. The Company cautions you not to place undue reliance on forward-looking statements, which speak only as of the date made. Other than as required under the securities laws, PDC undertakes no obligation to update any forward-looking statements in order to reflect any event or circumstance occurring after the date of this 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.