SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
May 9,
2008
Date
of report (Date of earliest event reported)
Petroleum
Development Corporation
Exact
Name of Registrant as Specified in Charter
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Nevada
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0-7246
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95-2636730
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State
or Other Jurisdiction
of
Incorporation
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Commission
File
Number
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IRS
Employer
Identification
Number
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120
Genesis Boulevard, Bridgeport, WV 26330
Address
of Principal Executive Offices
304-842-3597
Registrant's
telephone number, including area code
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing
obligation
of the registrant under any of the following provisions (see General Instruction
A.2. below):
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[
]
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Written
communications pursuant to Rule 425 under Securities Act (17 CFR
230.425)
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[
]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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[
]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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[
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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No
Change
Former
Name or Former Address, if Changed Since Last Report
Item
8.01. Other
Events
Petroleum
Development Corporation announced on May 9, 2008, an increased capital budget
for 2008 and changes to both natural gas commodities and oil commodity
positions.
The
associated Press Release is attached by reference as Exhibit 99.1.
EXHIBIT
INDEX
Item
9.01. Financial Statements and Exhibits.
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(d)
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Exhibits
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Exhibit
Number: 99.1
Press Release dated May 9, 2008:
Petroleum Development Corporation Increases 2008 Capital Budget, Resets and Adds
to Natural Gas and Oil Commodity Positions,
Schedules Investor
Conference Call for May 13, 2008, at 1:00 p.m. (ET)
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
PETROLEUM
DEVELOPMENT CORPORATION
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Date:
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May 13,
2008
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By:
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/s/
Richard W. McCullough
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Richard
W. McCullough
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Vice
Chairman and Chief Financial
Officer
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