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PDC FUNDS THIRD DRILLING PARTNERSHIP OF 1993

 BRIDGEPORT, W.Va., Sept. 17 /PRNewswire/ -- Petroleum Development Corporation (NASDAQ-NMS: PETD) (PDC) today announced that it has funded the third drilling partnership of 1993 with investor subscriptions of $3,027,000 on Sept. 13, and has commenced drilling an additional 17 wells in north central West Virginia.
 This will bring total subscriptions for the 1993 drilling program to $8.5 million and total gas wells drilled this year to 45. This will continue the company's position as one of the country's most active drillers. Depths of these wells will be between 3,000 to 5,500 feet. According to a company spokesman, the company has a long-term market for the additional gas supplies to be produced.
 PDC said it plans to form two additional partnerships this year. The company markets its public drilling fund through NASD broker/dealers throughout the country. The next partnership will be formed on Nov. 15 and the last one will be formed on Dec. 31.
 Petroleum Development Corporation, a leading Appalachian independent oil and gas company, is headquartered in Bridgeport, and is engaged in the business of exploring for, developing and producing oil and natural gas. Petroleum Development's common stock is traded in the NASDAQ National Market with the symbol PETD.
 -0- 9/17/93
 /CONTACT: Dale G. Rettinger of PDC, 304-842-3597/
 (PETD)


CO: Petroleum Development Corporation ST: West Virginia IN: OIL SU:

CD-KC -- PG010 -- 3104 09/17/93 12:43 EDT
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Publication:PR Newswire
Date:Sep 17, 1993
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