________________________________________________________________________________________________________ PEDEVCO
We’ re very focused on production growth, but we’ re also striving to continue to simplify our business... company estimates that up to three drilling units( DSU’ s) with up to 18 wells total could be developed under this project per year.
“ In parallel, we’ re working to permit at least two drilling units per year in the D-J Basin, thereby significantly increasing the value of our acreage, and then either drill those DSU’ s ourselves or work with partners to develop them, which is often our preferred option, as many of the larger operators in the D-J Basin are able to operate with better economies of scale and realize significantly lower expenses, with increasingly strong results.”
2025 priorities
Looking to the future, Mr. Schick elaborates on the company’ s priorities for the coming year, stating:“ We’ re very focused on production growth, but we’ re also striving to continue to simplify our business and accelerate our growth by creating partnerships with other companies to leverage economies of scale and consolidate asset positions, as we have been doing in both the Permian Basin and the D-J Basin. Consistent with this focus, this year we hope to divest more of our non-core assets that are time and resource consuming and don’ t add a great deal of value, while focusing on developing our position in the D-J Basin alongside the development of our Permian Basin assets.
“ When we first invested in the company back in 2018,” Mr. Schick concludes,“ our long-term goal was to build a significant public company. Looking ahead, we plan to facilitate and accelerate the growth of our existing asset base to 10,000-plus barrels of oil equivalent per day through organic growth while searching for acquisition and consolidation opportunities to accelerate scale.” ■
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