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PDCE - PDC Energy: This Shale Oil Driller Is Worth Considering
PDC Energy Inc.
PDC Energy (PDCE) was planning on tapping into its expanded asset base, growing oil production, and generating strong levels of free cash flows. But the sudden collapse in oil prices from more than $60 a barrel at the start of 2020 to just $18.27 at the time of this writing has forced the company to significantly alter its plans. The shale oil drillers will struggle with losses in the downturn. The tough environment threatens to push some companies to bankruptcy. But I think PDC Energy is better positioned than most to withstand this