BRIDGEPORT, W.Va., July 22 /PRNewswire-FirstCall/ -- Petroleum Development Corporation (NASDAQ:PETD) today announced it has entered into a third amendment of its revolving bank loan agreement. The amendment increases the Company's borrowing base, adds additional lenders, and amends certain other provisions. The bank commitment was increased by $65.9 million to $300 million.
Richard W. McCullough, President and CEO, noted, "This amendment gives us additional capacity to fund our aggressive development program and increased flexibility to pursue growth opportunities." About Petroleum Development Corporation Petroleum Development Corporation (http://www.petd.com/) is an independent energy company engaged in the exploration, production and marketing of natural gas and oil. Its operations are focused in the Rocky Mountains with additional operations in the Appalachian and Michigan Basins. PDC is included in the S&P SmallCap 600 Index. Additionally, PDC was added to the Russell 3000 Index of Companies in 2003. DATASOURCE: Petroleum Development Corporation CONTACT: Celesta Miracle of Petroleum Development Corporation, +1-304-842-3597 Web site: http://www.petd.com/
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