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Stock Market & Financial Investment News

News Breaks
May 2, 2014
08:44 EDTPEDPacific Energy announces production rates for first three Wattenberg wells
PEDEVCO Corp. d/b/a Pacific Energy Development, announced the estimated initial production rates of the first three wells in which the company has a 12.5% interest that were drilled and completed by a third party operator on acreage recently acquired by the company in the Wattenberg Area of Weld County, Colorado. The 24-hour peak rates for these three wells, as estimated by the Company based on information received from the operator, are as follows: 529.2 BOE/D; 556.2 BOE/D; 542.6 BOE/D. The company acquired its Wattenberg Asset in March, expanding its position in the Denver-Julesberg Basin from an original 2,384 net acres to a total of 16,400 net acres in Weld and Morgan Counties, Colorado. Spudded in January and completed in April, these three wells are among the first four wells in the drilling program that the company announced earlier this month. The first well was drilled and completed in 2011 and has already returned its drilling and completion costs.
News For PED From The Last 14 Days
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October 14, 2014
08:39 EDTPEDPacific Energy Development acquires additional acreage in Wattenberg Core
PEDEVCO Corp. d/b/a Pacific Energy Development announced that the company acquired an additional 863.61 net acres in Weld County, Colorado, approximately 857.9 net acres of which are located in the prolific Wattenberg core area, as well as a number of general business initiatives related to the company's rapid growth trajectory. The company acquired the additional Wattenberg core acreage from Continental Resources in exchange for the company's assumption of approximately $73,000 in certain ad valorem tax liabilities from Continental with respect to certain operated wells the company acquired from Continental in March. In addition, on October 9, Continental paid to the company approximately $483,000 cash to reflect certain final post-closing adjustments in connection with the company's March acquisition. With the addition of this new Wattenberg core acreage, the company now holds approximately 14,132.5 net acres in its Wattenberg asset, with interests in 45 horizontal wells, 11 of which are operated by the company and currently producing, with an additional 3 operated wells recently drilled and currently awaiting completion in late-October, 16 non-operated wells, and 15 wells in which the company has an after-payout interest. The company is currently preparing to commence completion operations on its recently drilled three well-pad Loomis wells, with initial results expected to be available in early November.

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