Followers | 1 |
Posts | 17 |
Boards Moderated | 0 |
Alias Born | 04/22/2015 |
Tuesday, June 23, 2015 1:42:36 AM
Pacific Energy Development (NYSE MKT: PED) (the "Company") announced today that it has recently elected to participate for its full 25% working interest in seven horizontal wells planned to be drilled and completed by a third party operator in the Wattenberg Area of Weld County, Colorado, which wells are expected to commence drilling in June 2015. These horizontal wells will be located in the same area that the three Pronghorn wells operated by Bonanza Creek are located, in which wells the Company also holds a 25% working interest. These first three Pronghorn wells are among the Company's best performing wells in the D-J Basin, yielding 24-hour peak initial production rates as estimated by the Company of 529.2 BOE/D (459 Bbl oil and 421 Mcf/d gas), 556.2 BOE/D (458.7 Bbl oil and 585 Mcf/d gas), and 542.6 BOE/D (459.2 Bbl oil and 500 Mcf/d gas).
The Company plans to fund these wells through entry into a funding arrangement with Dome Energy AB ("Dome"), the Swedish company with which the Company has recently entered into an Agreement and Plan of Reorganization, and/or other parties, which funding arrangement is planned to provide for the full funding of these wells.
Commenting on these wells and the anticipated funding arrangement with Dome, Mr. Frank Ingriselli, the Company's Chairman and Chief Executive Officer, stated: "We are very excited to participate in these seven additional Pronghorn wells given that our first three Pronghorn wells in this same section yielded such outstanding production rates. We are equally pleased to be working with Dome Energy to structure funding arrangements, with the goal of costing Pacific Energy Development nothing out of pocket. We believe that this planned transaction with Dome will further unify our interests and demonstrates how we believe the combined company will be able to capitalize on development opportunities going forward."
Recent PED News
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 09/23/2024 04:15:17 AM
- Form S-3 - Registration statement under Securities Act of 1933 • Edgar (US Regulatory) • 09/11/2024 09:38:08 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 09/11/2024 08:22:30 PM
- Form 10-K/A - Annual report [Section 13 and 15(d), not S-K Item 405]: [Amend] • Edgar (US Regulatory) • 09/10/2024 08:50:28 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/30/2024 08:52:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/30/2024 08:52:08 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/30/2024 08:31:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/14/2024 08:40:57 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/14/2024 08:30:29 PM
- Form ARS - Annual Report to Security Holders • Edgar (US Regulatory) • 07/12/2024 08:12:51 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 07/12/2024 08:07:03 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 07/12/2024 08:05:34 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/15/2024 08:45:51 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/15/2024 08:31:07 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/05/2024 10:22:35 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/29/2024 09:31:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/29/2024 09:31:28 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/29/2024 09:31:24 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/29/2024 09:31:21 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/29/2024 09:30:51 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 01/25/2024 11:51:22 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 01/25/2024 11:44:06 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 01/25/2024 11:11:06 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 01/24/2024 02:03:38 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 01/24/2024 01:55:39 AM
FEATURED Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • Sep 24, 2024 8:50 AM
FEATURED Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM