21 03 2016

PDC Energy, Inc. $297 Million Block Trade

Davis Polk advised the representatives of the underwriters in connection with an SEC-registered block trade of 5,922,500 shares of common stock of PDC Energy, Inc.


BofA Merrill Lynch and J.P. Morgan acted as Joint Book-Running Managers. Wells Fargo Securities, BBVA, BMO Capital Markets, BTIG, Credit Agricole CIB, Scotia Howard Weil, TD Securities, Credit Suisse, Goldman, Sachs & Co., Capital One Securities, CIBC, Comerica Securities, Johnson Rice & Company L.L.C., KeyBanc Capital Markets, Natixis acted as Co-Managers. The net proceeds from the offering were approximately $297 million. The common stock is listed on the Nasdaq Global Select Market under the symbol “PDCE”. Headquartered in Denver, Colorado, 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 the Utica Shale in southeastern Ohio. The Davis Polk capital markets team included partner Deanna L. Kirkpatrick (Picture), counsel Jeffrey S. Ramsay and associate Gabriel A. de Corral. Partner Michael Farber and associate Vinay Prabhakar provided tax advice. Counsel Loyti Cheng and associate Yuko Masunaga provided environmental advice. Involved fees earner: Deanna Kirkpatrick - Davis Polk & Wardwell; Jeffrey Ramsay - Davis Polk & Wardwell; Gabriel de Corral - Davis Polk & Wardwell; Michael Farber - Davis Polk & Wardwell; Vinay Prabhakar - Davis Polk & Wardwell; Loyti Cheng - Davis Polk & Wardwell; Yuko Masunaga - Davis Polk & Wardwell;

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