PDC Energy reports the Company's preliminary 2011 capital plan, which is estimated to be between $260 and $300 million, subject to board approval. The plan includes $205 to $240 million for development drilling, including accelerated horizontal drilling in the Niobrara oil trend of the Wattenberg Field and in the Wolfberry oil trend in the Permian Basin. PDC also intends to use $36 million for purchasing three 2005 partnerships announced today, with the remainder being used for exploration, leasing and miscellaneous capital needs. PDC expects to finalize the 2011 capital budget and seek approval from its Board of Directors prior to year-end 2010.

PDC anticipates directing approximately 75 to 85 percent of its development capital towards oil based projects, including commencing its horizontal Niobrara program, accelerating development of its Wolfberry oil assets and continuing its vertical drilling and refrac / recompletion program in the Wattenberg field. PDC expects that this capital plan will increase its production by 20 to 25 percent next year over 2010 production, with oil and natural gas liquids production comprising 30 to 35 percent of total production.

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