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PDC Energy (PDCE) Gets Approval for Kenosha Development Plan
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PDC Energy , the Denver, CO-based independent upstream operator, recently announced that the regulatory body — Colorado Oil and Gas Conservation Commission (COGCC) — sanctioned PDC Energy’s Kenosha Oil & Gas Development Plan permit application.
The Kenosha development comprises 69 wells on three pads situated in rural Weld County, CO and is essential to PDCE as it will increase permitted inventory by another rig year and extend drilling and completion activity into 2024.
In the near future, PDC Energy will have more than 550 permits and drilled and uncompleted wells.
The Senior Vice President of Operations at PDC Energy, David Lillo, mentioned how his team did an outstanding job in working with COGCC leadership and staff and that he appreciates the collaborative relationship his firm has with COGCC, which helped get the permit under new regulations. “Kenosha is the second OGDP we have had approved and we look forward to further approvals with our Guanella Comprehensive Area Plan, Broe and other OGDPs,” he ended.
PDC Energy, Inc. is engaged in the exploration, development and production of natural gas, crude oil and natural gas liquids. The firm is focused on the Wattenberg Field in Colorado and the Delaware Basin in Texas. PDCE’s Wattenberg operations are centered around the Niobrara and Codell formations, while the Delaware Basin development primarily targets the Wolfcamp zones.
The Zacks Consensus Estimate for Valero’s 2022 earnings is projected at $16.68 per share, up about 493.6% from the projected year-ago earnings of $2.81.
Valero beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being around 84.3%. VLO is valued at around $57.3 billion.
Magnolia stock has increased 92.5% in a year. The Zacks Consensus Estimate for Magnolia’s 2022 earnings has been revised upward by about 14.9% over the past 60 days from $3.88 to $4.46 per share.
The Zacks Consensus Estimate for MGY’s 2022 earnings is projected at $4.46 per share, up about 84.3% from the projected year-ago figure of $2.42.
The Zacks Consensus Estimate for Civitas’ 2022 earnings is projected at $15.12 per share, up about 416% from the projected year-ago figure of $2.93.
Civitas stock has gone up 74.8% in a year. The Zacks Consensus Estimate for CIVI’s 2022 earnings has been revised upward by about 33.6% over the past 60 days from $11.32 to $15.12 per share.
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PDC Energy (PDCE) Gets Approval for Kenosha Development Plan
PDC Energy , the Denver, CO-based independent upstream operator, recently announced that the regulatory body — Colorado Oil and Gas Conservation Commission (COGCC) — sanctioned PDC Energy’s Kenosha Oil & Gas Development Plan permit application.
The Kenosha development comprises 69 wells on three pads situated in rural Weld County, CO and is essential to PDCE as it will increase permitted inventory by another rig year and extend drilling and completion activity into 2024.
In the near future, PDC Energy will have more than 550 permits and drilled and uncompleted wells.
The Senior Vice President of Operations at PDC Energy, David Lillo, mentioned how his team did an outstanding job in working with COGCC leadership and staff and that he appreciates the collaborative relationship his firm has with COGCC, which helped get the permit under new regulations. “Kenosha is the second OGDP we have had approved and we look forward to further approvals with our Guanella Comprehensive Area Plan, Broe and other OGDPs,” he ended.
PDC Energy, Inc. is engaged in the exploration, development and production of natural gas, crude oil and natural gas liquids. The firm is focused on the Wattenberg Field in Colorado and the Delaware Basin in Texas. PDCE’s Wattenberg operations are centered around the Niobrara and Codell formations, while the Delaware Basin development primarily targets the Wolfcamp zones.
PDC Energy currently sports a Zacks Rank #1 (Strong Buy). Some other similar-ranked stocks from the energy space that warrant a look include Valero Energy (VLO - Free Report) , Magnolia Oil & Gas Corp (MGY - Free Report) and Civitas Resources (CIVI - Free Report) . You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Valero’s 2022 earnings is projected at $16.68 per share, up about 493.6% from the projected year-ago earnings of $2.81.
Valero beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being around 84.3%. VLO is valued at around $57.3 billion.
Magnolia stock has increased 92.5% in a year. The Zacks Consensus Estimate for Magnolia’s 2022 earnings has been revised upward by about 14.9% over the past 60 days from $3.88 to $4.46 per share.
The Zacks Consensus Estimate for MGY’s 2022 earnings is projected at $4.46 per share, up about 84.3% from the projected year-ago figure of $2.42.
The Zacks Consensus Estimate for Civitas’ 2022 earnings is projected at $15.12 per share, up about 416% from the projected year-ago figure of $2.93.
Civitas stock has gone up 74.8% in a year. The Zacks Consensus Estimate for CIVI’s 2022 earnings has been revised upward by about 33.6% over the past 60 days from $11.32 to $15.12 per share.