PDC Energy Inc. (NASDAQ: PDCE) said May 16 that the borrowing base on its revolving credit facility was reaffirmed at $700 million and that the commitment level was maintained at $450 million.
The company also settled its 3.25% convertible senior notes due 2016, paying the principal balance plus cash for fractional shares totaling about $115 million, , utilizing proceeds from its March equity offering. PDC also issued 792,406 common shares.
PDC Energy Inc. is based in Denver.
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