secwatch.observer — SEC 8-K summary
======================================

Issuer:     PDC ENERGY, INC. (—)
CIK:        0000077877
Form:       8-K
Filed at:   2023-08-07T23:59:59+00:00
Accession:  0001104659-23-088136
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.02, 2.01, 3.01, 5.01, 3.03, 5.03, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PDC Energy completes merger with Chevron; shares delisted, shareholders receive 0.4638 Chevron shares per PDC share
--------------------------------------------------------------------------------

- Merger closed Aug 7, 2023; PDC becomes wholly-owned Chevron subsidiary.
- Each PDC share converted into 0.4638 Chevron share; PDC stock suspended from Nasdaq.
- PDC's $1.8B credit facility terminated; $560M outstanding repaid.
- All prior PDC directors and officers replaced; Frank Mount, Harsh Goyal, Norman Hansen named directors; Kimberly McHugh named President.
- PDC's 6.125% Senior Notes due 2024 to be redeemed on Aug 14, 2024 at par plus accrued interest.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/77877/000110465923088136/0001104659-23-088136-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/77877/000110465923088136/tm2321729d8_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-088136

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer