PDC Energy Announces $1.3 Billion Core Wattenberg Acquisition, Establishes Enhanced Return of Capital Framework, Provides 2021 Results and 2022 Guidance

Acquisition Adds Significant Scale to Core Wattenberg Position, is Accretive to Key Financial and Operating Metrics, Maintains Strong Balance Sheet Increases Quarterly Base Dividend More Than 100% to $0.25 per Share with Expectations to Further Increa