Petroleum Development Company Description
The hills are alive with opportunity for Petroleum Development, which produces natural gas that it finds in the Rocky Mountains and the Appalachian Basin; the independent also has operations in the Michigan Basin. The company owns interests in 4,354 wells and in 2007 reported net proved reserves of 686 billion cu. ft. of natural gas equivalent. Petroleum Development also drills and operates wells for its partners, and often sets up public limited partnerships to fund its well-drilling program. Subsidiary Riley Natural Gas markets natural gas for the company and others in Appalachia.
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The Company Description provides a historical perspective of Petroleum Development's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of Petroleum Development's evolution in the marketplace.
