PEDEVCO Corp., an energy company focusing on shale oil and gas development and production in the United States and Asia, announced the drilling of two new wells on its Niobrara asset located in northeastern Colorado.
The State 16-7-60 1H horizontal well, located in Weld County, Colorado, has reached a total vertical depth of approximately 6,260 feet with a total measured depth of approximately 10,630 feet.
The Wickstrom 18-2H horizontal well, located in Morgan County, Colorado has commenced drilling and is targeted to reach to a total vertical depth of approximately 6,100 feet with a total measured depth of approximately 14,700 feet. The Company currently has three producing wells on its Niobrara asset which covers an area of 10,224 gross acres in Weld and Morgan Counties, Colorado. The State 16-7-60 1H and the Wickstrom 18-2H wells are the Company’s fourth and fifth wells drilled on the Niobrara asset.