Denver-based PDC is selling 7.9 million shares of common stock for gross proceeds of $500 million and another $175 million in convertible notes due 2021.
The underwriters will have the option to purchase another 1.185 million shares and another $25 million in notes.
JP Morgan, BofA Merrill Lynch, BMO Capital Markets and Wells Fargo Securities are joint book-running managers for both the common stock offering and the notes.
