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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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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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