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PDC Energy Appoints Mr. David Honeyfield to Chief Financial Officer

DENVER, Dec. 01, 2016 (GLOBE NEWSWIRE) -- PDC Energy, Inc. (“PDC” or the “Company”) (Nasdaq:PDCE) today announced the appointment of Mr. David Honeyfield to the position of Chief Financial Officer and Senior Vice President where he will be responsible for financial, accounting, and treasury functions as well as other related duties.  Mr. Honeyfield’s appointment is effective December 19, 2016.

/EIN News/ -- Mr. Honeyfield has over 25 years of energy related experience, including a proven background in accounting, finance, treasury, and capital markets. Mr. Honeyfield was most recently Vice President and Chief Financial Officer for Jonah Energy in Denver.  His previous experience includes six years at Intrepid Potash, where his last role was President and Chief Financial Officer.  Previously, he served in various leadership roles including Chief Financial Officer at SM Energy, Controller and Chief Accounting Officer at Cimarex Energy/Key Production Company, and Senior Audit Manager at Arthur Andersen where he focused on oil and gas exploration & production, manufacturing and mining sectors.  Mr. Honeyfield holds a BA in Economics from the University of Colorado and is a Certified Public Accountant.

Bart Brookman, President and Chief Executive Officer, stated, “David has an extensive financial and accounting background in the oil and gas industry and related fields. He has served in various roles of increasing responsibility with several highly successful companies and we are excited to add his expertise and leadership skills to our management team. I am confident David will be a significant contributor to the future growth and success of PDC.”

About PDC Energy, Inc.

PDC Energy, Inc. is a domestic independent exploration and production company that produces, develops, acquires and explores for crude oil, natural gas and NGLs with operations in the Wattenberg Field in Colorado and in the Utica Shale in southeastern Ohio. Upon completion of the Company’s previously announced acquisition, the Company will also conduct those activities in the Delaware Basin portion of the Permian Basin in West Texas. Its operations are focused on the liquid-rich horizontal Niobrara and Codell plays in the Wattenberg Field and the condensate and wet gas portion of the Utica Shale play.

NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 regarding PDC's business, management and prospects. All statements other than statements of historical fact included in this release are forward-looking statements. Words such as expects, forecast, guidance, anticipates, intends, plans, believes, seeks, estimates and similar expressions or variations of such words are intended to identify forward-looking statements herein. Although forward-looking statements contained in this press release reflect the Company's good faith judgment, such statements can only be based on facts and factors currently known to PDC. Consequently, forward-looking statements are inherently subject to risks and uncertainties, including risks and uncertainties incidental to the exploration for, and the acquisition, development, production and marketing of oil and natural gas, and actual outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. PDC urges you to carefully review and consider the cautionary statements made in the Company's filings with the SEC for further information on risks and uncertainties that could affect the Company's business, financial condition and results of operations, which are incorporated by this reference as though fully set forth herein. The Company cautions you not to place undue reliance on forward-looking statements, which speak only as of the date hereof. PDC undertakes no obligation to update any forward-looking statements in order to reflect any event or circumstance occurring after the date of this release or currently unknown facts or conditions or the occurrence of unanticipated events. All forward looking statements are qualified in their entirety by this cautionary statement.

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

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