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Pedevco Looks to Exceed Average IP at Niobrara Loomis Pad
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PEDEVCO Corp. d/b/a Pacific Energy Development has commenced testing to determine the initial production rates of the Company's 3 new horizontal Loomis wells recently drilled and completed on a 3-well pad in Weld County, Colorado.
Since completion, the three Loomis wells -- the Loomis 2-1H, Loomis 2-3H and Loomis 2-6H -- have been on flow-back. With recent sub-zero temperatures in Eastern Colorado, the flow-back was temporarily reduced or halted at times. Through the use of heaters coupled with higher outside temperatures, the Company has now resumed flow-back and is commencing initial production rate testing of these wells.
Based on the initial flow-back, the Company anticipates these wells will exceed the average initial production rates of all prior horizontal wells drilled and…
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