Pacific Energy Development has successfully completed the drilling of the Loomis 2-3H well and has spud the third well, the Loomis 2-6H.

Both wells are located on the Company's Wattenberg Asset in Colorado, and are the second and third wells of a three well-pad drilling program that began in August 2014. The drilling of the first well, the Loomis 2-1H, was completed earlier this month.

The Loomis 2-3H well reached a total measured depth of 11,345 feet, with a 6,279 foot total vertical depth and 4,227 foot completed lateral length through the Niobrara "B" Bench, with Niobrara "B" Bench chalk present across the entire well bore with a thickness of approximately 45 feet, and drill cuttings from the well bore evidencing highly prolific oil rich shale reservoir rock. Following the drilling, it is planned to receive an 18 stage enhanced frac treatment which will test increased proppant concentrations.

Tags: Pacific Energy Development