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August 19, 2014
08:38 EDTPEDPacific Energy Development commences drilling of 3 wells on Wattenberg Asset
PEDEVCO Corp. d/b/a Pacific Energy Development announced that the company has spudded the first of three back-to-back wells on its Wattenberg Asset that will be operated by the company. The drilling and completion schedule for these initial three wells is on target, with the spudding of the second and third wells planned to follow in immediate succession. The company plans to drill these wells from a single pad at an estimated gross cost of approximately $4.2M per well. Each well is planned to receive an 18 stage enhanced frac treatment with lateral lengths between 4,000 and 4,500 feet. The company expects completion and initial results to be available in late-October 2014. PEDEVCO has an approximately 49.7% net working interest in each well. The company currently operates 11 wells in its recently acquired Wattenberg Asset, and operates 5 additional wells through its subsidiary Condor Energy Technology in its Niobrara Asset. These three new wells will be the company's first wells to be drilled and completed by the company as operator following its recent acquisition of the Wattenberg Asset.
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.
May 14, 2015
17:30 EDTPEDPEDEVCO expects to sign Dome Energy acquisition agreement before May 24
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17:29 EDTPEDPEDEVCO reports Q1 revenue $1.5M, three estimates $1.77M.
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