PDC Energy Closes Offering Of 6.5 Mln Shares

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5/21/2012 4:41 PM ET

Petroleum Development Corp. (PETD: Quote) Monday said it closed public offering of 6.5 million common shares at $26.50 per share, to raise about $164 million.

The company has granted the underwriters to purchase up to an additional 975,000 shares on or before June 14, 2012. Petroleum Development plans to use the proceeds to finance a portion of its contemplated acquisition of additional assets in the Wattenberg Field in Colorado or for other general corporate purposes.

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