Pacific Energy Development says that completion operations on its recently drilled three well-pad Loomis wells is now scheduled to commence during the week of November 12th, and flowback is expected to commence immediately thereafter with initial results to be available in mid-December.

Once these three new Loomis wells are producing as expected in December, the Company estimates that it will exit the year producing over 500 boepd from its D-J Basin operations, more than doubling its current production and consequently, its cash flow and revenues.

In addition, the Company has taken recent steps to seek to reduce production costs and help ensure uninterrupted production. In October 2014, the Company received notice of the successful completion of a newly drilled salt water disposal well (SWD) in the D-J Basin to which the Company will have preferential access.

Tags: Pacific Energy Development