Petroleum Development Corp. (PETD) Reports 2009 Summary of Activity
Petroleum Development Corporation released operational details on its oil and gas development activities for 2009. The company reported total production of 43.3 billion cubic feet equivalent (Bcfe) of natural gas in 2009, an increase of 12% from the 38.7 Bcfe in 2008. This strong production growth was powered by the drilling of 100 gross wells in 2009. In 2009, Petroleum Development Corporation focused mainly on its properties in the Wattenberg Field, where the company drilled 82 wells. The company also moved forward its development of the Marcellus Shale. During 2009, Petroleum Development Corporation drilled a total of 8 test wells…