PDC Energy announces the repayment of the outstanding amount of 6.250%

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DENVER, November 01, 2021 (GLOBE NEWSWIRE) – PDC Energy, Inc. (“PDC” or the “Company”) (Nasdaq: PDCE) today announced that it has notified the US Bank National Association (the “Trustee ) That it will redeem the remaining $ 102,324,000.00 in aggregate principal amount of its 6.250% Senior Notes due 2025 (the “Notes”) on December 1, 2021. The redemption price of the Notes will be equal to 103.125 % of the principal amount thereof plus accrued and unpaid interest, in accordance with the trust deed, dated November 29, 2017, between PDC (as successor to SRC Energy Inc.) and the trustee. Interest on the Notes will cease to accrue from the date of repayment.

Additional information concerning the redemption conditions is contained in the redemption notice which will be distributed to holders of the Notes. Beneficial holders who have questions about the redemption should contact their respective brokerage firm or financial institution. This press release is not a ticket redemption notice.

About PDC Energy, Inc.

PDC Energy, Inc. is an independent national exploration and production company that acquires, explores and develops properties for the production of crude oil, natural gas and NGLs, with operations in the Wattenberg field in Colorado and in the Delaware Basin in West Texas. Its Wattenberg field operations are concentrated in the horizontal areas of Niobrara and Codell and its operations in the Delaware Basin are primarily concentrated in the horizontal areas of Wolfcamp.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 (“Securities Act”), Section 21E of the Securities Exchange Act of 1934 (“Exchange Act”) and of the United States ( “US”) Private Securities Litigation Reform Act of 1995 relating to the redemption of the Bonds by the Company. All statements other than statements of historical fact included and incorporated by reference in this press release are “forward-looking statements”.

PDC cautions you not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. The Company assumes no obligation to update any forward-looking statements to reflect any event or circumstance occurring after the date of this press release or any currently unknown facts or conditions or the occurrence of unforeseen events. All forward-looking statements are qualified in their entirety by this cautionary statement.


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