SAN FRANCISCO (Thomson Financial) - Petroleum Development Corp. said Friday
it has increased its 2008 capital budget by $40 million, bringing the total to
$295 million.
The 16% increase in the capital budget will enable the company to operate a
third rig in the Grand Valley field with the plan to increase drilling to 62
gross wells from 42 gross wells, the Bridgeport, W.Va.-based company said.
The company's stock was down 22 cents at $72.89.
Katherine Hunt
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