September 25, 2012
PDC Energy Announces Proposed Private Debt Offering
DENVER, September 25,
2012: PDC Energy, Inc. (PDC or the Company) (Nasdaq:PDCE) today announced that, subject to market conditions, the Company is planning a private offering of $400 million in aggregate principal amount of senior unsecured
notes due 2022. 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.
NOTE REGARDING FORWARD-LOOKING STATEMENTS
Statements made in this press release other than statements of historical fact are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of
the Securities Exchange Act of 1934. These statements are based on assumptions and estimates that management believes are reasonable based on currently available information; however, managements assumptions are subject to a wide range of
business risks and uncertainties, including the risk that the proposed transaction may not occur. There is no assurance that managements assumptions and expectations will be realized. Information regarding risks and uncertainties that may
affect the companys operations and the forward-looking statements made herein is available in the companys filings with the Securities and Exchange Commission, which are incorporated by this reference as though fully set forth herein.
PDC undertakes no obligation to update any forward-looking statements in order to reflect any event or circumstance occurring after the date of this release or currently unknown facts or conditions or the occurrence of unanticipated events. All
forward looking statements are qualified in their entirety by this cautionary statement.
||Director Investor Relations |
||Investor Relations Manager |
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