Scandoil  

Pacific Energy to acquire 14,000 net acres and 40 wells in the Niobrara Shale Formation


Published Mar 11, 2014
[an error occurred while processing this directive]

Edit page New page Hide edit links

Pacific Energy Development-2

Pacific Energy Development, an energy company engaged in the acquisition and development of strategic high-value energy projects in the U.S. and Asia, announced the following:

◾ The closing of the previously announced acquisition of approximately 28,000 net acres in Wattenberg and Wattenberg Extension in Colorado ◾ The entering of a joint venture with RJ Resources for a 50% working interest on the project going forward, resulting in 14,000 net acres to the Company ◾ The closing of a $34,500,000 loan to facilitate the purchase of the Colorado acreage ◾ Establishment of a $15,500,000 drilling facility for the development of the new Colorado acreage ◾ The issuing of 3,438,500 shares of common stock through an underwritten registered shelf offering for gross proceeds to the Company of $7,392,775 ◾ The cancellation of 3,333,333 shares of common stock resulting in 26,309,011 shares issued and outstanding

Tags: Pacific Energy Development




Advertisment:

Comments on this page are closed.

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml