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News Breaks
April 1, 2014
08:46 EDTPEDPacific Energy Development announces drilling plans for Wattenberg Asset
Pacific Energy Development announced that it plans to participate in the drilling of its first four wells in the Wattenberg Extension Area acreage, or Wattenberg Asset, it acquired last month. These four wells were all drilled and operated by Bonanza Creek, which has a proven track record of undertaking successful and cost-effective drilling programs. The first well, which was originally drilled in 2011, has already returned its drilling and completion costs. The other remaining three wells were drilled in February and completed in March, and are expected to be on full production in April. The company expects further results of these wells to be available before the end of April. For 2014, the company plans to drill and participate in approximately 11 additional gross wells on the Wattenberg Asset and 2 gross wells in its Niobrara legacy acreage, including both operated and non-operated wells. Both the Wattenberg and Niobrara Assets are located in the DJ Basin and substantially in Weld County, Colorado. The company is in the process of securing permits for spacing, pooling and drilling and other required approvals from the Colorado Oil and Gas Commission with respect to wells it plans to drill and complete as an operator on these assets, and expects positive results from those filings in June. Upon receipt of these permits and approvals, the company will identify the location of the wells in an update to its development plan.
News For PED From The Last 14 Days
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January 15, 2015
08:38 EDTPEDPEDEVCO Corp. announces third Loomis well production 540 bopd
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January 14, 2015
17:19 EDTPEDPEDEVCO Corp. announces production rate from Loomis 2-1H well
PEDEVCO Corp., d/b/a Pacific Energy Development, announced that its Loomis 2-1H horizontal well recently completed in Weld County, Colorado has tested at an initial production rate of 576 barrels of oil per day and 630 thousand cubic feet of gas, from the Niobrara "B" Bench target zone. The Loomis 2-1H well is the second of three new horizontal wells recently completed by the company from a single pad. The company has an approximately 49.7% net working interest in this well, which came in under budget, reaching a total measured depth of 11,365 feet, with a 6,334 foot total vertical depth and 4,851 foot lateral length, and with 18 frac stages through the Niobrara "B" Bench target zone. On January 13th the company announced that its first reported well had an initial production rate of 590 boepd.
January 13, 2015
16:49 EDTPEDPEDEVCO Corp. reduces production rate from first of three Loomis wells
PEDEVCO Corp. d/b/a Pacific Energy Development announced that its Loomis 2-6H horizontal well recently completed in Weld County, Colorado has tested at an initial production rate of 540 barrels of oil per day and 300 thousand cubic feet of, from the Niobrara "B" Bench target zone. The Loomis 2-6H well is the first of three new horizontal wells recently completed by the company from a single pad. The company has an approximately 49.7% net working interest in this well, which came in under budget, reaching a total measured depth of 11,335 feet, with a 6,298 foot total vertical depth and 4,694 foot lateral length, and with 25 frac stages through the Niobrara "B" Bench target zone. The company expects to release initial production rates for the second and third Loomis wells over the next several days.

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