Drilling is expected to begin on seven new Wattenberg horizontal wells, PEDEVCO Corp., doing business as Pacific Energy Development, said July 20.
PEDEVCO will participate for its full 25% working interest in each well, and a third-party operator in the Wattenberg Field, in Weld County, Colo., will drill and complete them.
They will be in the same section as three producing wells PEDEVCO participates in. These three wells had IP rates that passed 500 barrels oil equivalent per day (boe/d).
PEDEVCO also said that it will participate for 4.4% working interest in an eighth horizontal well in the area, which was recently drilled and is awaiting completion.
This well is scheduled to be completed in one month, and is in the same section as Bonanza Creek’s State Antelope wells, the company added.
The State Antelope 34-12-1XRLNB well averaged 615bbl/d of oil and 1,086 thousand cubic feet per day (Mcf/d) of gas in the first 30 days. In the first six months it produced 66,242bbl of oil and 172,701Mcf of gas.
PEDEVCO Corp. is based in Danville, Calif.
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