Frank Ingriselli, CEO of Pedevco Corporation, purchased 20,000 shares of Pedevco Corporation (Stock Symbol: PED) at $2.24 per share for a total amount of $44.8 thousand on June 30, 2014.
Pedevco Corporation is located in Danville, California.
On 06/18/2014, Pedevco Corporation, an energy company engaged in the acquisition and development of strategic high-value energy projects in the U.S. and Asia, today announced that on June 17, 2014 the Company received approval from the Oil and Gas Conservation Commission of the State of Colorado (COGCC) for the drilling of up to 79 new horizontal wells comprising 7 spacing units covering a total of approximately 6,700 gross acres in the Company’s recently acquired Wattenberg Asset located in Weld County, Colorado.
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According to Capital IQ, Pedevco Corporation has a market cap of $47.24 million, an enterprise value of $67.2 million, and trailing 12 month revenues of $1.48 million.
PEDEVCO Corp., doing business as Pacific Energy Development, is engaged in the acquisition, exploration, development, and production of oil and natural gas shale plays in the United States. Its operations are located primarily in the Niobrara Shale play, which consists of approximately 16,379 net acres of oil and gas properties in the Denver-Julesburg Basin in Weld and Morgan Counties, Colorado; and the Mississippian Lime play that consists of approximately 3,443 net acres of oil and gas properties in Comanche, Harper, Barber, and Kiowa Counties, Kansas. As of December 31, 2013, the company had proved undeveloped reserves of 393,043 barrels of oil and 781 million cubic feet of natural gas. PEDEVCO Corp. has strategic alliances with MIE Holdings Corporation to develop unconventional shale properties; and STXRA for the acquisition, engineering, and oil drilling and completion technology services. The company was founded in 2011 and is headquartered in Danville, California.
Frank Ingriselli’s most recent annual compensation from Pedevco Corporation is a salary of $285,833, $0 in other compensation, and a total compensation of $285,833. Mr. Ingriselli is 58 years old.
According to his biography, Mr. Frank C. Ingriselli is Executive Chairman of the Board, President, Chief Executive Officer of Pedevco Corp., since July 2012. Mr. Ingriselli has served as the President, Chief Executive Officer, and Director of Pacific Energy Development since its inception. Mr. Ingriselli began his career at Texaco, Inc. in 1979 and held management positions in Texaco’s Producing-Eastern Hemisphere Department, Middle East/Far East Division, and Texaco’s International Exploration Company. In 1992, Mr. Ingriselli was named President of Texaco International Operations Inc. and over the next several years directed Texaco’s global initiatives in exploration and development. In 1996, he was appointed President and CEO of the Timan Pechora Company. In 1998, Mr. Ingriselli returned to Texaco’s Executive Department with responsibilities for Texaco’s power and natural gas operations, merger and acquisition activities, pipeline operations and corporate development. In August 2000, Mr. Ingriselli was appointed President of Texaco Technology Ventures. In 2005, Mr. Ingriselli co-founded CAMAC Energy Inc. and served as its President, Chief Executive Officer and a member of its Board of Directors from 2005 to July 2010. Mr. Ingriselli currently sits on the Advisory Board of the Eurasia Foundation, a Washington D.C.-based non-profit that funds programs that build democratic and free market institutions in the new independent states of the former Soviet Union. Since 2006, Mr. Ingriselli has also served on the board of directors and as an executive officer of Brightening Lives Foundation Inc., a New York charitable foundation headquartered in Danville, California. Mr. Ingriselli graduated from Boston University in 1975 with a Bachelor of Science degree in Business Administration. He also earned a Master of Business Administration degree from New York University in both Finance and International Finance in 1977 and a Juris Doctor degree from Fordham University School of Law in 1979.
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