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PEDEVCO Announces Approval of D-J Basin Development Plan for Roth 2-11 Wells and Operations Update [Yahoo! Finance]

Pedevco Corp. (PED) 
NASDAQ:AMEX Investor Relations: pacificenergydevelopment.com
Company Research Source: Yahoo! Finance
acquisition and development of strategic, high growth energy projects in the U.S., today announced that it received approval on January 31, 2024 from the Colorado Energy and Carbon Management Commission (ECMC) of the Company's Roth 2-11 Oil and Gas Development Plan (OGDP), which covers 2,560 acres and up to 11 horizontal Niobrara wells in Weld County, Colorado. The Company plans to commence drilling operations in Q2 2024, with initial production anticipated in the second half of 2024. J. Douglas Schick, President of the Company, stated, "We are very pleased to commence our 2024 operated development program in the D-J Basin now that we have obtained this important approval. We look forward to procuring the necessary services to begin operations next quarter as we seek to develop what we anticipate to be a high rate of return multi-well drilling unit on our acreage directly offsetting recent successful non-operated development in the D-J Basin." About PEDEVCO Corp. PEDEVCO Corp. ( Show less Read more
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