SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

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FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES AND EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported) March 14, 2003

(Exact Name of Registrant as Specified in Charter)

(State or Other Jurisdiction (Commission (IRS Employer

of Incorporation) File Number) Identification No.)

(Address of Principal Executive Offices)

Registrant's telephone number, including area code 304-842-3597

(Former Name or Former Address, if Changed Since Last Report

Item 5. Other Events.

On March 13, 2003, the Company issued a news release announcing a stock purchase plan. The news release is filed herewith as Exhibit 99.1 and incorporated herein by reference.

EXHIBIT INDEX

1. The press release of Petroleum Development Corporation, dated March 13, 2003 announcing a stock repurchase plan.

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

Date March 14, 2003             

By  /s/ Dale G. Rettinger                                  

        Dale G. Rettinger