PDC Announces Milestone Achievement Of 75.4 Hours Of Continuous Pumping Time

HOUSTON, TEXAS (JUNE 6, 2022) – PDC Energy, Inc (Nasdaq:PDCE), together with Liberty (NYSE: LBRT) announced today that our operational teams have collectively achieved the milestone of 75.4-hours of continuous plug-and-perf pumping time in the DJ Basin in late January 2022. The operations team completed 4,525 minutes of pumping time with zero non-productive time.

Continuous plug-and-perf pumping offers multiple benefits for PDC and the community in which we operate including reduced cost, lower environmental impact, and less time spent on location.  During the 75.4-hour period, PDC and Liberty completed 72 stages. This achievement resulted in 14% less time spent on location.  Additionally, by eliminating idle time on location, we were able to reduce greenhouse gas emissions by 8% compared to another 72-stage period of similar design. 

During operations, the teams utilized the Intelligent Wellhead Systems inVision® Technology Platform, a digital completion technology that introduces plant-style process control to the frac site using a combination of sensors and accumulator valve lock-outs. This data-to-action system enables complex valve management processes for continuous frac operations to be performed safely, consistently, and efficiently.

“In 2021, Liberty launched Operation 1440, an effort to optimize every minute of the day,” said Liberty CEO, Chris Wright.  “Liberty and PDC teams successfully completed this mission and took our goal to new heights as we achieved over 3 days of continuous plug-and-perf pumping. Liberty is proud to partner with companies like PDC, that prioritize technology to continue to raise standards in ESG and safety performance.”

About PDC Energy, Inc

PDC Energy, Inc. is a domestic independent exploration and production company that acquires, explores, and develops properties for the production of crude oil, natural gas and NGLs, with operations in the Wattenberg Field in Colorado and Delaware Basin in west Texas. Its operations in the Wattenberg Field are focused on the horizontal Niobrara and Codell plays and our Delaware Basin operations are primarily focused on the horizontal Wolfcamp zones.

About Liberty

Liberty is a leading North American oilfield services firm that offers one of the most innovative suites of completion services and technologies to onshore oil and natural gas exploration and production companies. Liberty was founded in 2011 with a relentless focus on developing and delivering next generation technology for the sustainable development of unconventional energy resources in partnership with our customers. Liberty is headquartered in Denver, Colorado. For more information about Liberty, please contact Investor Relations at IR@libertyfrac.com.

About Intelligent Wellhead Systems (IWS)

Intelligent Wellhead Systems designs, tests, manufactures, and deploys proprietary and unique digital safety and efficiency workflow technologies for oil and gas well completion operations. The company’s inVision™ Technology Platform helps oil/gas and oilfield service companies reduce operating risk, lower the total cost of operations, and improve uptime. IWS, a privately owned technology and services company, is backed by Pason Systems Inc. (“Pason”) (TSX: PSI). www.intelligentwellheadsystems.com

Contact:

Ryan Huebner

Marketing Manager
Intelligent Wellhead Systems Inc.
+1-832-790-5274
ryan@iwscorp.com
intelligentwellheadsystems.com

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