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PDC Energy to acquire SRC for $971 million
Aug. 27, 2019
Source: Reuters

PDC Energy to acquire SRC for $971 million

PDC Energy yesterday agreed to acquire rival SRC Energy Inc in a $971.3 million all-stock deal. The deal, which will create the second-largest producer in Colorado’s DJ basin, is expected to conclude in the fourth quarter. The merged entity will gain ownership to 182,000 net acres in the Wattenberg field in the DJ basin. PDC’s management team will expand to a nine-member board including two SRC directors.

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