The hills are alive with opportunity for PDC Energy (formerly Petroleum Development), which explores for and produces natural gas (and some oil) in the Rocky Mountains and the Appalachian Basin; the independent also has operations in the Permian Basin. The company owns interests in more than 5,000 wells and in 2013 reported net proved reserves of 740 billion cu. ft. of natural gas equivalent. Subsidiary Riley Natural Gas markets natural gas for the company and others in Appalachia. PDC Energy had drilled and operated wells for its partners, but has exited this low-revenue contract drilling business in order to focus on its core exploration and production operations.