PDC ENERGY INC

CUSIP: 69327R101 Class: Common Stock

Baldwin Investment Management, LLC's Holding History (CIK: 0001346378)

Note: Option positions (PUT/CALL) are excluded.

Q1 2017
Shares 5,000 Value ($000) $312 Avg Close — Range —
Q4 2016
Shares 5,000 Value ($000) $363 Avg Close — Range —
Q3 2016
Shares 5,000 Value ($000) $335 Avg Close — Range —
Q2 2016
Shares 5,000 Value ($000) $288 Avg Close — Range —
Q1 2016
Shares 5,000 Value ($000) $297 Avg Close — Range —
Q4 2015
Shares 5,000 Value ($000) $267 Avg Close — Range —
Q3 2015
Shares 5,000 Value ($000) $265 Avg Close — Range —
Q2 2015
Shares 5,000 Value ($000) $268 Avg Close — Range —
Q1 2015
Shares 5,000 Value ($000) $270 Avg Close — Range —
Q4 2014
Shares 5,000 Value ($000) $206 Avg Close — Range —
Q3 2014
Shares 5,000 Value ($000) $251 Avg Close — Range —
Q2 2014
Shares 5,000 Value ($000) $316 Avg Close — Range —
Q1 2014
Shares 5,000 Value ($000) $311 Avg Close — Range —
Q4 2013
Shares 5,000 Value ($000) $266 Avg Close — Range —
Q3 2013
Shares 5,000 Value ($000) $298 Avg Close — Range —
Q2 2013
Shares 5,000 Value ($000) $257 Avg Close — Range —