PDC Energy urges shareholders to vote for board nominees
PDC Energy announced that it has filed definitive proxy materials with the U.S. Securities and Exchange Commission in connection with its 2019 Annual Meeting of Stockholders, scheduled for May 29, 2019. PDC shareholders of record as of the close of business on April 1, 2019 will be entitled to vote at the 2019 Annual Meeting. The company is also mailing a letter to shareholders. The company said. "Highlights of the letter include:PDC's Board and management team have successfully repositioned the company as a focused player with strong core positions in the Wattenberg Field in Colorado and Delaware Basin in Texas. The company is successfully executing its plan and advancing its financial priorities, which include: Sustainable free cash flow; Financial and operational discipline; and Profitable growth. PDC's plan is working and resulted in strong 2018 financial and operating results, underscoring the value of the company's high-quality portfolio. The company has provided a differentiated multi-year outlook and expects to build upon its proven track record of delivering on commitments. PDC's three incumbent directors standing for reelection - PDC's CEO Bart Brookman, and independent directors Mark Ellis and Larry Mazza - are highly-qualified and have critical operating, industry and regulatory expertise to drive the Company's plan forward. Kimmeridge's nominees have no significant public company board, large-scale operating or technical expertise, and they lack Colorado regulatory experience. The PDC Board believes Kimmeridge is undertaking this proxy contest as part of an effort to use PDC as a vehicle to pursue its own M&A agenda."