Petroleum Development Corporation Relies on PrecisionIR Webcasting

The Client: Petroleum Development Corporation started as a small, public, Appalachian Basin oil and gas company in 1969. Their unique business model has allowed the company to grow revenue, net income, reserves and production much more rapidly than their peers. Their production, revenues, and profitability have grown substantially and steadily. (www.petd.com)

The Challenge: Petroleum Development Corporation’s primary goal is to continue steadily growing per-share reserves, production, and net income. To reach this goal, PDC maintains an active drilling program focusing primarily on development wells and natural gas production. PDC felt that regularly sharing their progress on these initiatives would benefit the growth of their company. They needed an easy and effective way to connect with employees and investors worldwide to communicate these initiatives and results.

The Solution: PDC started using PrecisionIR webcasting to present their news and information to their target audiences.

They began webcasting quarterly earnings events to their investors. They webcast their industry conference presentations. They began hosting Lunch and Learn classes for employees on a multitude of topics ranging from simple program training to complex drilling rules and requirements. These programs increased PDC’s ability to train employees throughout different locations.

PDC has used PrecisionIR’s broadcast features to effectively reach a wide potential audience with many different types of presentations. They often add an attendee list to track who is participating in their events. They have webcast many of their conference presentations and converted these to podcasts to expand their reach.

The Results: For the past seven years Petroleum Development Corporation has been webcasting their corporate news and information with PrecisionIR.

PDC’s investor events started with an audience of only 6-7 attendees in 2000, but since then, 100’s of investors tune in to view their earnings presentations, as well as their training programs. PDC has found that customer service, professional technical support, as well as an easy to use interface are critical components of a webcast provider. When PrecisionIR webcast their Annual Meeting, PDC knew they could rely on the attentive customer service from PrecisionIR to ensure that all the details were covered. The success of the web event programs has allowed PDC to communicate the news about their substantial and steady growth effectively to their targeted audiences.