PDC Energy get great news

[dan_s]

This is also great news for SRCI

Proposition 112, the initiative that would dramatically increase oil and gas drilling setbacks from homes, businesses and waterways, was decisively defeated Tuesday night following a contentious campaign in which the industry spent tens of millions of dollars to derail the measure.

As of 10 p.m., the measure was losing by a 57 percent to 43 percent margin with more than 75 percent of the vote tallied, according to the Associated Press.

Amendment 74, which would allow property owners to seek compensation from government any time a government action or regulation devalues a person’s property, was also facing defeat, trailing 54 percent to 46 percent. The amendment needed 55 percent of the vote to become law.

Both measures had tallied more than 1.7 million votes each.

https://www.denverpost.com/2018/11/06/c ... 2-results/

[dan_s]

My valuation of PDCE is $90/share. See my forecast/valuation model on the EPG website home page.

First Call's valuation is $73, but it should get several upgrades this week.