PDC Energy Acquires 4,500 Net Acres in Core Delaware Basin

PDC Energy, an independent exploration and production company, said Wednesday that it has closed the acquisition of approximately 4,500 net acres in Reeves and Culberson Counties, Texas from Fortuna Resources for approximately $118 million in cash, subject to post-closing adjustments.

The company has 100% working interest in the acquired leasehold and expects to operate 100% of the properties. Current net production associated with the acquisition is approximately 300 barrels of oil equivalent per day.

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