PDCE - PDC Energy: Potential For Over $1 Billion In Positive Cash Flow In 2022

• PDC Energy could generate over $1.1 billion in positive cash flow in 2022 at $70 WTI oil.
• This would allow it to nearly eliminate its net debt by the end of 2022 as well as reduce its share count to around 93 million.
• I estimate its value at $55 to $61 at long-term $65 WTI oil and $3.25 NYMEX gas.
• The high-end of that range is dependent on PDC's ability to secure Colorado permits, with the Guanella CAP potentially being a big boost.

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