PDC Energy completed the acquisition of Great Western Petroleum from TPG for $1.3bn.

PDC Energy, a domestic exploration and production company that acquires, explores and develops properties for the production of crude oil, natural gas and NGLs, completed the acquisition of Great Western Petroleum, a company that explores, develops, and deposits crude oil and natural gas, from TPG for $1.3bn. "Coupled with our existing high-quality inventory, this Core Wattenberg acquisition adds meaningful scale to PDC while also demonstrating our commitment to – and confidence in – the future of safe and responsible energy development in the state of Colorado. This opportunity meets all the Company’s acquisition-related criteria we’ve previously communicated by strengthening our free cash flow, increasing our shareholder returns, honoring the balance sheet and adding competitive, high-quality inventory," Bart Brookman, PDC Energy President and CEO.