PED Profile
PEDEVCO Corp., based in Houston, Texas, operates as a prominent player in the oil and gas sector, focusing on the strategic acquisition, development, and production of oil and natural gas assets across key regions in the United States. A subsidiary of SK Energy LLC, PEDEVCO Corp. leverages its extensive expertise and industry experience to optimize the exploration and exploitation of hydrocarbon resources, contributing to its robust portfolio of assets.
As of December 31, 2021, PEDEVCO Corp. held significant acreage in two prolific basins: approximately 32,870 net acres in the Permian Basin, spanning Chaves and Roosevelt Counties, New Mexico, and approximately 11,580 net acres in the Denver-Julesberg (D-J) Basin, situated in Weld and Morgan Counties, Colorado. These strategic holdings position the company strategically in regions renowned for their rich oil and gas reserves, enabling PEDEVCO Corp. to capitalize on operational efficiencies and maximize resource extraction.
The Permian Basin asset portfolio comprises interests in 385 net wells, while the D-J Basin asset includes ownership in 78 net wells. PEDEVCO Corp.'s operational strategy emphasizes the implementation of advanced drilling and production technologies to enhance well performance and optimize hydrocarbon recovery rates. The company's commitment to sustainable resource development is underscored by its adherence to rigorous environmental and regulatory standards, ensuring responsible stewardship of natural resources.
In addition to its core exploration and production activities, PEDEVCO Corp. continues to pursue strategic growth initiatives aimed at expanding its asset base and enhancing shareholder value. By leveraging its strong financial position and operational capabilities, the company remains resilient amid market fluctuations and poised to capitalize on emerging opportunities in the dynamic energy landscape. With a focus on operational excellence and sustainable growth, PEDEVCO Corp. is committed to driving long-term profitability and maintaining its position as a leader in the U.S. oil and gas industry.
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