| Business Summary | | Petroleum
Development
Corporation
is
an
independent
energy
company
engaged
primarily
in
the
development,
production
and
marketing
of
natural
gas
and
oil.
The
Company
has
grown
primarily
through
drilling
and
development
activities,
the
acquisition
of
natural
gas
and
oil
producing
wells
and
the
expansion
of
its
natural
gas
marketing
activities.
As
of
December
31,
2000,
the
Company
operates
approximately
2,025
wells
located
in
the
Appalachian
basin,
Michigan
and
the
Rocky
Mountain
Region,
with
gross
proved
reserves
of
307
Bcfe
of
natural
gas
of
which
the
Company's
share
is
132
Bcfe
of
natural
gas.
The
wells
operated
by
the
Company
currently
produce
an
aggregate
of
approximately
47,000
thousand
cubic
feet
equivalent
(Mcfe)
of
natural
gas
per
day,
of
which
the
Company's
share
is
approximately
19,500
Mcfe. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Petroleum
Development
Corporation
is
engaged
in
the
development,
production
and
marketing
of
natural
gas.
For
the
six
months
ended
6/30/01,
total
revenues
increased
68%
to
$106.7
million.
Net
income
increased
82%
to
$9.4
million.
Revenues
reflect
increased
drilling
and
completion
activity,
higher
marketing
activities
and
higher
oil
and
natural
gas
sales.
Earnings
also
reflect
lower
interest
rates
on
debt
and
lower
production
costs
as
a
percentage
of
sales. | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| James Ryan, 69 Chairman
and CEO | $718K | $443K | Steven Williams, 50 Pres | 680K | 429K | Dale Rettinger, 56 CFO,
Exec. VP, Treasurer, Director | 680K | 429K | Roger Morgan, 74 Director
and Sec. | -- | -- | Dollar
amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|