PDC Energy Inc. is a domestic independent exploration and production Company, which produces, develops, acquires and explores for crude oil, natural gas and natural gas liquids (NGLs). The Company operates in two segments: Oil and Gas Exploration and Production, and Gas Marketing. The Company’s Oil and Gas Exploration and Production segment primarily reflects revenues and expenses from the production and sale of crude oil, natural gas and NGLs, commodity price risk management, net, and well operations and pipeline income. The Company’s Gas Marketing segment comprises the operating activities of its wholly owned subsidiary, Riley Natural Gas. The Company operates in the Wattenberg Field in Colorado and the Utica Shale in southeastern Ohio. Its operations in the Wattenberg Field are focused on the liquid-rich horizontal Niobrara and Codell plays. It owns an interest in approximately 2,900 gross producing wells, of which 350 are horizontal.