Exploration & Production | Drilling & Completions | Top Story | Production
Pedevco Preps to Complete DJ Basin Loomis Wells; Adds SWD Well
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PEDEVCO Corp. d/b/a Pacific Energy Development has reported an operational and business update today.
Highlights: Completion operations on its recently drilled three well-pad Loomis wells are scheduled to commence during the week of November 12th, with initial results expected to be available in early-December. Estimated to exit 2014 with average net daily production exceeding 500 barrels of oil equivalent per day (boepd), doubling current revenues, cash flow and production. Company's D-J Basin play break-even price of crude consistent with recent industry estimates of $40-$60 WTI per barrel ("break-even" defined as 15% rate of return). Entered into long-term preferential salt water disposal well agreement capable of disposing all of the Company's produced water in D-J Basin. Recent…- ✓ Full news archive — U.S., Canada & international coverage
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