PDC Energy, Inc. acquired approximately 4,500 net acres in Reeves and Culberson Counties, Texas from Fortuna Resources LLC for approximately $120 million.

PDC Energy, Inc. (NasdaqGS:PDCE) acquired 4500 Net Acres in Reeves and Culberson Counties, Texas from Fortuna Resources LLC for approximately $120 million on December 30, 2016. The purchase price was paid in cash and is subject to certain post closing adjustments. Evercore Partners Inc. (NYSE:EVR) acted as the financial advisor to Fortuna Resources LLC. PDC Energy, Inc. (NasdaqGS:PDCE) completed the acquisition of approximately 4,500 net acres in Reeves and Culberson Counties, Texas from Fortuna Resources LLC on December 30, 2016.