PDC Energy’s CFO to retire in mid-2016

Gysle Shellum, CFO of PDC Energy Inc., will retire from the company, effective June 30, 2016. Shellum joined the company in 2008 and has served as CFO since that time. He will continue to serve as CFO until the appointment of his successor, and thereafter will assist the company with the transition and other matters.

In a note following the news, Seaport Global Securities analysts said they were “unconcerned” by the departure, citing the “ample transition period” and remarking that they expect PDC “to maintain capital discipline and a strong balance sheet going forward.”

Denver, CO-based PDC Energy’s operations are focused on the horizontal Niobrara and Codell plays in the Wattenberg Field and on the condensate and wet-gas portion of the Utica shale play.

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