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
March 12,
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
5.02. Departure
of Directors or Certain Officers; Election of directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers.
Petroleum
Development Corporation announced management changes in a press release dated
March 12, 2008. In addition to other management changes, the Company
has named Richard W. McCullough as President in addition to his current roles as
Vice Chairman and Chief Financial Officer. Mr. McCullough will continue to serve
as CFO until a successor for the position is named. Barton R.
Brookman has been promoted to an executive officer position, Senior Vice
President Exploration and Production, from his previous position as Vice
President of Production. In his new role Mr. Brookman will be in
charge of all of the exploration and development drilling and production
operations of the Company. The title of Eric R. Stearns was also
changed to executive Vice President and his duties were changed as defined in
the attached release.
The
complete details of the Company’s management changes are included in the Press
Release is attached herein as Exhibit 99.1
In
addition, effective March 9, 2008, the Board also appointed Mr. McCullough to
the Planning and Finance Committee, and the Executive Committee of the Board of
Directors, and confirmed his appointment to the Board.
EXHIBIT
INDEX
Item
9.01. Financial Statements and Exhibits.
(c) Exhibits.
PRESS RELEASE: dated March 12,
2008
Petroleum
Development Corporation Announced Management Changes
Revised
Team Will Support Continuing Growth
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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March
13, 2008
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By:
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/s/
Steven R. Williams
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Steven
R. Williams
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Chairman
and CEO
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