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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001209191-10-033138.txt : 20100608
<SEC-HEADER>0001209191-10-033138.hdr.sgml : 20100608
<ACCEPTANCE-DATETIME>20100608211134
ACCESSION NUMBER:		0001209191-10-033138
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20100604
FILED AS OF DATE:		20100608
DATE AS OF CHANGE:		20100608

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SWOVELAND JEFFREY C
		CENTRAL INDEX KEY:			0001195389

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-07246
		FILM NUMBER:		10885848

	MAIL ADDRESS:	
		STREET 1:		C/O PETROLEUM DEVELOPMENT CORP
		STREET 2:		103 E MAIN STREET
		CITY:			BRIDGEPORT
		STATE:			WV
		ZIP:			26330

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PETROLEUM DEVELOPMENT CORP
		CENTRAL INDEX KEY:			0000077877
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				952636730
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1775 SHERMAN STREET
		STREET 2:		SUITE 3000
		CITY:			DENVER
		STATE:			CO
		ZIP:			80203
		BUSINESS PHONE:		304-842-3597

	MAIL ADDRESS:	
		STREET 1:		PETROLEUM DEVELOPMENT CO
		STREET 2:		PO BOX 26
		CITY:			BRIDGEPORT
		STATE:			WV
		ZIP:			26330

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	YELLOW WING URANIUM CORP
		DATE OF NAME CHANGE:	19730606
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>c02234_4x0.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2010-06-04</periodOfReport>

    <issuer>
        <issuerCik>0000077877</issuerCik>
        <issuerName>PETROLEUM DEVELOPMENT CORP</issuerName>
        <issuerTradingSymbol>PETD</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001195389</rptOwnerCik>
            <rptOwnerName>SWOVELAND JEFFREY C</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O PETROLEUM DEVELOPMENT CORP</rptOwnerStreet1>
            <rptOwnerStreet2>1775 SHERMAN STREET, SUITE 3000</rptOwnerStreet2>
            <rptOwnerCity>DENVER</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80203</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2010-06-04</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5106</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>17639</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">The 5106 shares acquired pursuant to this report were granted as follows: 3877 shares were issued  pursuant to the 2005 PDC Non-Employee Director Restricted Stock Plan, and will vest on July 1, 2011 (or earlier under certain circumstances), and 1229 shares were issued pursuant to the 2010 Long Term Equity Compensation Plan, and will vest ratably over three years, beginning on July 1, 2011 (or earlier under certain circumstances).</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Jeffrey C. Swoveland</signatureName>
        <signatureDate>2010-06-08</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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