Petroleum Development Corporation (PETD) announced that the company is changing its name to PDC Energy. The company will continue to use the old trading symbol.
PDC Energy has 70,500 net acres under lease that are prospective for the Niobrara Shale, located mostly in the Wattenberg Field. The company estimates that it has 650 Bcfe of recoverable reserves in the Niobrara Shale on that acreage.
