PDC Energy, INC.: insider trades · United States · SEC (Form 4)

About PDC Energy, INC.

PDC ENERGY, INC. (ticker: PDCE) was a U.S.-listed independent exploration and production company focused on oil, natural gas, and natural gas liquids (NGLs) before it was acquired by Chevron, with the transaction closing on August 7, 2023. From an investor’s perspective, it was a pure upstream energy name with direct sensitivity to commodity pricing and operational execution. The company was headquartered in Denver, Colorado, United States, and was traded on the NASDAQ market prior to delisting following the Chevron acquisition. PDC Energy’s core business model centered on acquiring, exploring, developing, and producing hydrocarbon properties. Its operational footprint was concentrated in two major onshore U.S. basins: the Wattenberg Field in Colorado’s Denver-Julesburg (DJ) Basin and the Delaware Basin in west Texas. In the Wattenberg, the company’s activity was primarily focused on the horizontal Niobrara and Codell plays, while Delaware Basin development was centered mainly on the horizontal Wolfcamp zones. This gave PDC a basin-focused portfolio with strong exposure to highly followed U.S. shale regions, but also a relatively concentrated geographic risk profile. The company originated as Petroleum Development Corporation and later adopted the PDC Energy name. Over time, it built its position as a mid-sized independent producer, competing in a crowded North American upstream landscape against larger E&Ps and integrated oil majors with deeper balance sheets and broader diversification. PDC’s competitive appeal came from its acreage quality, its shale-oriented growth profile, and its leverage to commodity prices rather than downstream or midstream diversification. For investors, that meant a higher-beta exposure to oil and gas cycles, alongside operational metrics such as production growth, drilling efficiency, and capital discipline. The most important recent corporate event was Chevron’s acquisition of PDC Energy. Chevron announced the deal in 2023, and the acquisition was completed on August 7, 2023. As a result, PDC Energy no longer exists as an independent publicly traded company in 2026; it has been integrated into Chevron’s upstream portfolio. That is an important distinction for anyone reviewing SEC Form 4 filings or legacy market references: those materials reflect a historical issuer, not an active standalone equity today. Chevron has highlighted the added Colorado acreage and the strategic fit of PDC’s DJ Basin assets in its post-acquisition disclosures. In short, PDC Energy remains relevant as a historical U.S. shale producer, but its standalone listing on NASDAQ in the United States ended with the Chevron transaction.