Davis Polk advised Merrill Lynch, Pierce, Fenner & Smith Incorporated as the underwriter in connection with an SEC-registered block trade of 5,175,000 shares of common stock of PDC Energy, Inc. The net proceeds from the offering were approximately $276 million.  The common stock is listed on the Nasdaq Global Select Market under the symbol “PDCE”.

Headquartered in Denver, Colorado, PDC Energy, Inc. is a domestic independent energy company engaged in the exploration, development and production of crude oil, NGLs and natural gas. Its operations are focused primarily in the liquid-rich Wattenberg field of Colorado, including the horizontal Niobrara and Codell plays, the Utica Shale in Ohio and the Marcellus Shale in West Virginia.

The Davis Polk capital markets team included partner Deanna L. Kirkpatrick, counsel Jeff Ramsay and associates Kavita Paw and Cheryl Chan. Partner Lucy W. Farr and associate Juelle Gomes provided tax advice.  Counsel Loyti Cheng and associate Amy E. Turner provided environmental advice. Sorina Delia Lazar was the legal assistant on the transaction. All members of the Davis Polk team are based in the New York office.