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January 22, 2014
09:10 EDTPEDPacific Energy Development agrees to acquire 28,727 net acres in Nibrara Shale
Pacific Energy Development announced its entry into a definitive agreement to purchase an interest in 40 wells and approximately 28,727 net acres in the DJ Basin, Colorado from an independent U.S. oil and gas company, including approximately 2,200 net acres in the prolific Wattenberg Area. The acreage, in the Niobrara Shale Formation, includes approximately 28,241 net acres located in Weld County, Colorado and approximately 486 net acres located in Morgan County, Colorado. Of these 40 wells, 11 are operated, 14 are non-operated, and the Company will have an after-payout interest in 15. Estimated average production of the 11 operated and 14 non-operated wells was approximately 400 net barrels of oil equivalent per day as of September 2013. The purchase will have an effective date of December 1, 2013, with closing anticipated to occur in mid-February, subject to the satisfaction of certain customary closing conditions. The company will pay approximately $30M in cash, subject to customary adjustments.
News For PED From The Last 14 Days
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May 28, 2015
08:34 EDTPEDPEDEVCO confirms talks to sell rare earth interest
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May 26, 2015
18:04 EDTPEDPEDEVCO enters into reorganization agreement with Dome Energy
PEDEVCO announced the entry into an Agreement and Plan of Reorganization with Dome Energy whereby the Company will acquire all the US oil and gas assets of Dome. This transformational business combination with Dome Energy is expected to pay off existing senior debt of the Company; lower cost of capital with a 3.75% bank credit facility; provide drilling capital; provide additional capital to buy back Company stock; provide an estimated PV10 of 1P reserves of approximately $280M Increase production to an estimated 3,300 BOE/D at closing.
May 22, 2015
08:33 EDTPEDPEDEVCO Corp. signs agreement with Dome Energy
PEDEVCO Corp. d/b/a Pacific Energy Development confirms the press release issued by Dome Energy AB announcing the companies entered into an Agreement and Plan of Reorganization. The company will be issuing a formal press release and file a Form 8-K with the definitive documentation early next week.

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