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05/17/2019 | Press release | Distributed by Public on 05/17/2019 05:42

PDC Energy Sends Letter To Shareholders, Urges Vote FOR All 3 Nominees On WHITE Proxy Card

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PDC Energy Sends Letter To Shareholders, Urges Vote FOR All 3 Nominees On WHITE Proxy Card

Benzinga Newsdesk 5/17/2019 6:06:31 AM

PDC Energy, Inc. ('PDC' or the 'Company') (NASDAQ:PDCE) today mailed a letter to shareholders in connection with its 2019 Annual Meeting of Stockholders ('2019 Annual Meeting'), scheduled for May 29, 2019. PDC shareholders of record as of the close of business on April 1, 2019 will be entitled to vote at the 2019 Annual Meeting.

Highlights of the letter include:

PDC has a proven track record of operational excellence that Kimmeridge has consistently ignored or mischaracterized;
Kimmeridge has purposefully downplayed that PDC is the best-in-class operator in the Core Wattenberg, which accounts for more than 75% of the Company's production and proved reserves;
PDC's G&A level is consistent with its peer group, notwithstanding Kimmeridge's assertions to the contrary;
Kimmeridge has failed to present actionable ideas to create long-term, sustainable value for shareholders;
Leading independent proxy advisory firm Glass Lewis agrees that PDC shareholders should support the PDC slate of directors and reject Kimmeridge's nominees; and
PDC is successfully executing a winning strategy to capitalize on the Company's high-quality assets to deliver superior returns for investors.
The Company's letter to shareholders can be found at www.votewhiteforPDC.com/letters. Additional materials regarding the Board's recommendation for the 2019 Annual Meeting can be found at www.votewhiteforPDC.com.

EVERY SHAREHOLDER'S VOTE IS EXTREMELY IMPORTANT,
NO MATTER HOW MANY SHARES ARE OWNED.

Shareholders who have questions or require any assistance voting their shares
should contact PDC Energy's proxy solicitor:

MacKenzie Partners, Inc.
Stockholders may call toll-free: (800) 322-2885
Banks and Brokers may call collect: (212) 929-5500
Email: [email protected]