PDC Energy Appoints Mr. Lance Lauck to Senior Vice President of Corporate Development, and Appoints Mr. Lauck and Mr. Gysle Shellum to the Planning and Finance Committee

DENVER, March 9, 2012 (GLOBE NEWSWIRE) -- Petroleum Development Corporation (dba PDC Energy) ("PDC" or the "Company") PETD today announced the appointment of Mr. Lance Lauck to Senior Vice President of Corporate Development. In addition to the overall responsibilities previously assigned to Mr. Lauck which include business development and strategic planning, he will now assume the added responsibilities of reserve engineering and midstream marketing. Mr. Lauck's appointment is effective January 1, 2012. Hired in 2009, Mr. Lauck has over 25 years of experience in the oil and gas industry including a proven background in acquisitions and divestitures, corporate mergers, and business development.

Also, effective January 1, 2012, Mr. Lauck, along with Mr. Gysle Shellum, Chief Financial Officer for PDC Energy, were appointed to the Planning and Finance Committee of PDC's Board of Directors. Mr. Shellum has served as PDC's Chief Financial Officer since 2008, bringing with him over 25 years of energy related experience within the accounting, finance, risk management, and merger and acquisition areas.

James Trimble, President and Chief Executive Officer, stated, "Lance has been a key component of our success and we are thrilled to have him serve in this new position. His solid business acumen and leadership skills continue to produce meaningful value for our company. Gysle is also a key member of our management team and has been instrumental in PDC's continued growth. I am confident both Lance and Gysle will continue to make significant contributions for us in the future."

About PDC Energy

PDC Energy is an independent energy company engaged in the development, production and marketing of natural gas and oil.  Its operations are focused primarily in the Wattenberg Field of Colorado, including the horizontal Niobrara, the Marcellus Shale development in West Virginia and the Utica Shale in Ohio.  PDC is included in the S&P SmallCap 600 Index and the Russell 3000 Index of Companies.