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PDCE - PDC Energy Has An Enviable Free Cash Flow Profile
PDC Energy Inc.
Despite the crash in oil prices, some shale oil drillers have forecast free cash flows for the current year but PDE Energy (PDCE) is a rare company that expects to generate excess cash not only in 2020 but also in 2021. The Denver, Colorado-based oil producer burned cash in the first quarter but it will get better in the future as it benefits from a reduction in capital expenditures, crude oil hedges, and improvement in oil prices. The strong levels of free cash flows will allow PDC Energy to repay near-term debt while