PEDEVCO Finalizes Acreage in Mississippian Lime

PEDEVCO Corp. (dba Pacific Energy Development), an energy company focusing on shale oil and gas development and production in the United States and Pacific Rim countries, announced the closing of its acquisition of a 97 percent operated working interest in 7,006 gross (6,763 net) acres in a shale oil asset (the Mississippian asset) located in the Mississippian Lime formation in Comanche, Harper, Barber and Kiowa Counties, Kansas. The Company operates the asset and plans to commence drilling operations in the second quarter of 2013.

Commenting on the transaction, President and CEO Frank Ingriselli noted, "This newly acquired strategic acreage in the Mississippian formation establishes our presence in one of the most significant resources plays in America and triples our existing net acreage position. We look forward to commencing our drilling program on our Mississippian asset which we anticipate will provide a further platform for our organic growth."

Pacific Energy Development also recently announced the results of initial production from its second and third wells, the Logan 2H and Waves 1H, from its Niobrara asset located in Weld County, Colorado.

Riviera-Ensley Energy Advisors served as the principal advisor for this Mississippian asset transaction.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here

Plains All American Extends Mississippian Lime Pipeline

Plains All American Pipeline, L.P. announced it is constructing a 55-mile extension of its previously announced Mississippian Lime pipeline to service growing production in the Mississippian Lime resource play of western Oklahoma and southwest Kansas.

The Mississippian Lime pipeline extension, which is expected to be brought into service in the fourth quarter of 2013, will provide up to 75,000 barrels per day of crude oil throughput capacity from Coldwater in Comanche County, Kansas to Byron in Alfalfa County, Okla. From Byron, crude oil will flow on PAA's Mississippian Lime pipeline to its terminal in Cushing, Okla. The pipeline extension is supported by a long-term commitment from an area producer.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here