---

**SECURITIES
      AND EXCHANGE COMMISSION**


WASHINGTON,
      DC 20549





**FORM
      8-K**




CURRENT
      REPORT


PURSUANT
      TO SECTION 13 OR 15(d) OF THE


SECURITIES
      AND EXCHANGE ACT OF 1934





**November
      1, 2007**


*Date
      of report (Date of earliest event reported)*
















**Petroleum
      Development Corporation**


*Exact
      Name of Registrant as Specified in Charter*





**Nevada**
            **0-7246**
            **95-2636730***State
                or Other Jurisdiction*
              *of
                Incorporation*
            *Commission*
              *File
                Number*
            *IRS
                Employer*
              *Identification
                Number*





**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):





[    
                ]
            Written
                communications pursuant to Rule 425 under Securities Act (17 CFR
                230.425)[    
                ]
            Soliciting
                material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                240.14a-12)[    
                ]
            Pre-commencement
                communications pursuant to Rule 14d-2(b) under the Exchange Act (17
                CFR
                240.14d-2(b))[    
                ]
            Pre-commencement
                communications pursuant to Rule 13e-4(c) under the Exchange Act (17
                CFR
                240.13e-4(c))





**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.**




Election
      of Directors




Effective
      October 26, 2007, the board of directors (the “Board”) of Petroleum Development
      Corporation (the “Company”) increased the number of members of the Board of
      Directors from seven to nine, and selected Joseph E. Casabona and Larry F.
      Mazza
      to serve as members of the Company’s Board for a term that extends until the
      2008 annual meeting of the shareholders.  No committee assignments have
      been indicated at this time.




Mr.
      Casabona served as Executive Vice President and member of the Board of Directors
      of Denver based Energy Corporation of America (“ECA”) from 1985 to his
      retirement earlier this year. ECA combines Appalachian Basin natural gas
      development, deep exploration, marketing, and pipeline gathering and
      transportation to industrial end users, utility purchasers and other customers
      with higher risk, higher reward exploratory drilling in Texas and
      internationally.





Mr.
      Mazza
      has served as CEO of MVB Bank Harrison, Inc., in Bridgeport, West Virginia
      since
      March 2005.  Prior to the formation of MVB Bank Harrison, Mr. Mazza
      served as Senior Vice President Retail Banking Manager for BB&T in West
      Virginia, where he was employed from June 1986 to March 2005.





The
      selection of Mr. Casabona and Mr. Mazza was not pursuant to any arrangement
      or
      understanding between Mr. Casabona, Mr. Mazza or any third party.




As
      of the
      date of this report, neither Mr. Casabona nor Mr. Mazza nor any member of either
      gentlemen's immediate families is a party, either directly or indirectly, to
      any
      transaction that the Company is aware of that is required to be reported
      pursuant to Item 404(a) of Regulation S-K under the Securities Exchange Act
      of
      1934.




No
      new
      compensation arrangements were entered into in connection with the appointment
      to the Board of Mr. Casabona and Mr. Mazza.  Both gentlemen will receive
      the Company’s standard compensation arrangements applicable to a director who is
      not an employee of the Company.




The
      Board
      has determined that both Mr. Casabona and Mr. Mazza qualify as “independent”
under the guidelines promulgated by the Nasdaq Stock Market, Inc. and the
      applicable Securities and Exchange Commission rules.




The
      appointment of Mr. Casabona and Mr. Mazza was announced in the press release
      attached hereto as Exhibit 99.1 and incorporated by reference
      herein.




**EXHIBIT
      INDEX**





**Item
      9.01  Financial Statements and Exhibits.**





Exhibits.





**Exhibit**
              **No.**
            
            **Description**99.1
            
            Press
                Release, dated November 1, 2007 regarding the election of a new
                director.











**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**





Date:
            November
                1, 2007By:
            /s/
                Richard W. McCulloughRichard
                W. McCulloughChief
                Financial Officer