PDC Energy Announces Upsizing and Pricing of 7 3/4% Senior Notes Offering

PDC Energy

today announced that it has priced an offering of $500 million aggregate principal amount of 7¾% senior unsecured notes due 2022. The size of the offering represents an increase of $100 million in aggregate principal amount relative to the amount previously announced. The offering is expected to close on October 3, 2012, subject to customary closing conditions. PDC intends to use the net proceeds of the offering to redeem its 12% senior notes due 2018, to repay certain other indebtedness and for general corporate purposes. This press release is neither an offer to sell nor the solicitation of an offer to buy the notes or any other securities. The notes will be offered in the United States only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933 (the "Securities Act") and outside the United States in reliance on Regulation S under the Securities Act. The notes have not been registered under the Securities Act and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements.