________________________________________________________________________________________________________ PEDEVCO
PEDEVCO Corp.( NYSE American: PED) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in the United States. The company’ s principal assets are its Permian Basin asset located in eastern New Mexico and its D-J Basin asset located in Weld and Morgan Counties, Colorado, and Laramie County, Wyoming. PEDEVCO is headquartered in Houston, Texas.
J. Douglas Schick, President & Chief Executive Officer of PEDEVCO, has over 25 years of experience in the oil and gas industry. Prior to joining the company, he was employed by American Resources, Inc., a Houston, Texas-based privately held oil and gas investment, development and operating company which he co-founded. Prior to starting American Resources, Mr. Schick held management positions at
Highland Oil and Gas and Mariner Energy, Inc. and served in various roles of increasing responsibility in finance, planning, M & A, treasury and accounting at The Houston Exploration Company, ConocoPhillips, and Shell Oil Company.
“ PEDEVCO was originally established as an oil and gas company in 2010,” Mr. Schick begins.“ However, the current iteration of the company began in 2018, when the company was heavily distressed and overladen with approximately $ 75 million in debt following its 2014 acquisition of all of Continental Resources’ D-J Basin assets. My partners and I bought the company’ s debt for roughly $ 0.10 on the dollar, converted all the company’ s debt into equity which resulted in us taking ownership control of the company, and we reconstituted the company’ s Board of Directors and management team. Shortly after taking control of the company, the company acquired its
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