PDC Energy, Inc. Completes Merger with SRC Energy Inc.
15 1월 2020 - 3:18AM
PDC Energy, Inc. (NASDAQ: PDCE) (“PDC”) today announced that
it has completed its acquisition of SRC Energy
Inc. (NYSE: SRCI) (“SRC”). The merger was previously approved
by PDC stockholders and SRC shareholders at special
meetings held on January 13, 2020.
Each eligible share of SRC common stock issued
and outstanding immediately prior to the effective time of the
merger was converted into the right to receive 0.158 shares of
PDC’s common stock, with cash paid in lieu of any fractional
shares. As a result of the merger, SRC common stock will
no longer be listed for trading on the NYSE American,
and SRC will no longer have reporting obligations under
the Securities Exchange Act of 1934.
Bart Brookman, President and Chief Executive
Officer of PDC stated “Today is a pivotal day for PDC as we have
completed the merger of these two companies, both of which are
grounded in strong core values and a shared commitment to
responsible and safe operations. This merger will give the combined
company incredible financial strength and flexibility, highlighted
by low leverage and an industry-leading cost structure, as well as
a business plan capable of delivering sustainable free cash flow to
return significant capital to shareholders.”
About PDC Energy, Inc.
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.
Cautionary Statement Regarding
Forward-Looking Information
This release contains forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. All statements, other than historical facts, that address
activities or results that PDC assumes, plans, expects, believes,
intends or anticipates (and other similar expressions) will, should
or may occur in the future are forward-looking statements. The
forward-looking statements are based on management’s current
beliefs, based on currently available information, as to the
outcome and timing of future events. These forward-looking
statements involve certain risks and uncertainties that could cause
the results to differ materially from those expected by the
management of PDC. These include the risk of any unexpected costs
or expenses resulting from the merger, the risk of any litigation
relating to the merger, the risk that problems may arise in
successfully integrating the businesses of the companies which may
result in the combined company not operating as effectively and
efficiently as expected, the risk that the combined company may be
unable to achieve synergies or other anticipated benefits of the
merger or that it may take longer than expected to achieve those
synergies or benefits, and other important factors that could cause
actual results to differ materially from those projected. All such
factors are difficult to predict and are beyond PDC’s control, and
are subject to risks and uncertainties, including those detailed in
PDC’s Annual Reports on Form 10-K, Quarterly Reports on
Form 10-Q and Current Reports on Form 8-K that
are available on its website at http://www.pdce.com and on the
SEC’s website at http://www.sec.gov.
All forward-looking statements are based on
assumptions that PDC believes to be reasonable but that may not
prove to be accurate. PDC undertakes no obligation to correct or
update any forward-looking statement, whether as a result of new
information, future events or otherwise, except as required by
applicable law. Readers are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the
date hereof.
Contacts:
Michael Edwards
Senior Director Investor Relations
303-860-5820
michael.edwards@pdce.com
Kyle Sourk
Manager Investor Relations
303-318-6150
kyle.sourk@pdce.com
SRC Energy (AMEX:SRCI)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
SRC Energy (AMEX:SRCI)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024