Shares of PEDEVCO Corp (NYSE: PED), engaged in the acquisition, exploration, development and production of oil and natural gas shale plays in the U.S., recorded over 17.0% gain during each of the past two consecutive trading sessions with significant number of shares exchanging hands. PED was among the top performers in the U.S. energy sector after gaining 20.0% and closed at $0.66 Monday, while recording significant trading volumes of 302,554 shares. Recently, PED announced its production update for Loomis 2-3H well, which is the third of three new horizontal wells drilled and completed by PED from a single pad in Weld County, Colorado, wherein it managed the initial production rate of 540 barrels of oil per day (bopd) and 248 thousand cubic feet of gas (mcfgd). During the past 5-trading sessions, PED gained 65.2% with daily average trading volumes of 135,419 shares, while the stock accumulated 42.9% gain during the past one month with daily average trading volumes of 88,901 shares. The stock is up 46.7% year-to-date.
Company Description:
PEDEVCO Corp. (NYSE: PED), is an energy company engaged in the acquisition and development of energy projects, including shale oil and gas assets, in the US and Asia.
1-Year Stock Chart:
Source: Bloomberg
