This article was first published by Seeking Alpha on April 13, 2015
By Sarfaraz A. Khan.
A number of independent exploration and production companies have rapidly grown over the last few years but following the 50% drop in oil prices since last summer, most have scaled back their operations. On the other hand, PDC Energy (NASDAQ:PDCE) has recently revealed that it will grow its production at a compounded annual growth rate of between 25% and 30% through 2017, even if crude prices hover at $50 a barrel during this period.
PDC Energy is an independent oil and gas producer that holds 250 million barrels of oil equivalents of proven reserves in Colorado's Wattenberg field and Ohio's Utica Shale formation. During its Analyst Day last week, the company laid out its plans on how it is going to perform under three oil price scenarios.