Nevada (State or other jurisdiction of incorporation or organization) |
0-7246 (Commission File Number) |
95-2636730 (I.R.S. Employer Identification Number) |
1775 Sherman Street, Suite 3000 Denver, CO (Address of principal executive offices) |
80203 (Zip Code) |
Exhibit 99.1
|
Press Release dated June 11, 2011, announcing the appointment of James M. Trimble as President and Chief Executive Officer of the Company, and an investor call to discuss such transition. |
PETROLEUM DEVELOPMENT CORPORATION |
||||
By: | /s/ Daniel W. Amidon | |||
Daniel W. Amidon | ||||
General Counsel and Secretary |
Exhibit No. | Description | |
99.1
|
Press Release dated June 11, 2011, announcing the appointment of James M. Trimble as President and Chief Executive Officer of the Company, and an investor call to discuss such transition. |
Page | 2
| changes in production volumes and worldwide demand; | |
| volatility of commodity prices for natural gas and oil; | |
| changes in estimates of proved reserves; | |
| inaccuracy in reserve estimates and expected production rates; | |
| declines in the values of PDCs natural gas and oil properties resulting in impairments; | |
| the future cash flow, liquidity and financial position of the company; | |
| the timing and extent of the companys success in discovering, acquiring, developing and producing natural gas and oil reserves; | |
| PDCs ability to acquire leases, drilling rigs, supplies, services and personnel at reasonable prices; | |
| reductions in the borrowing base under the companys credit facility; | |
| risks incident to the drilling and operation of natural gas and oil wells; | |
| future production and development costs; | |
| the availability of sufficient pipeline and other transportation facilities to carry PDCs production and the impact of these facilities on price; | |
| the effect of existing and future laws, governmental regulations and the political and economic climate of the United States of America; | |
| changes in environmental laws and the regulations and enforcement related to those laws; | |
| the impact of weather and the occurrence of disasters such as fires, floods and other events and natural disasters and governmental | |
| responses to such events; | |
| competition in the oil and gas industry; | |
| the success of prospect development and property acquisition by the company; | |
| the success of the company in marketing oil and gas; | |
| the effect of natural gas and oil derivative activities and plans; | |
| conditions in the capital markets; | |
| losses possible from pending or future litigation; and | |
| the success of strategic plans, expectations and objectives for future operations of the company |
Page | 3
Contact: | Ron Wirth Director of Investor Relations 303-860-5830 rwirth@petd.com |
|
Contact: | Marti J. Dowling Manager Investor Relations 303-831-3926 ir@petd.com |
Page | 4
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