PDC Energy Inc., Denver, received approval from the Colorado Oil and Gas Conservation Commission (COGCC) for its Broe Oil & Gas Development Plan (OGDP) permit, which encompasses 30 wells in rural Weld County, Colo.
The Broe OGDP was initiated by Great Western Petroleum LLC—which was acquired by PDC in May 2022 for $543 million and about 4 million shares of PDC common stock—and represents PDC’s first OGDP approval on Great Western acreage, PDC said in a release June 29.
Combined with its Kenosha OGDP approval earlier in June, PDC added 99 new wells to its inventory in June and will soon have over 675 permits and drilled and uncompleted wells (DUCs), the company continued (OGJ Online, June 9, 2022).
Operationally, the new permits add to the company’s established inventory of projects in the Denver-Julesburg basin, giving the company “good visibility well into 2024 at current activity levels,” said David Lillo, senior vice-president of operations.
The company said it is already looking ahead to gaining approval of its Guanella Comprehensive Area Plan and future OGDPs.
PDC Energy’s operations in the Wattenberg field in Colorado are focused in the horizontal Niobrara and Codell plays.