HOUSTON, TX / ACCESSWIRE / June 29, 2020 / On June 29, 2020, PEDEVCO Corp. (NYSE American:PED) ("PEDEVCO" or the "Company") reported that, due to the recent recovery in oil prices, commencing in early June 2020 the Company has reactivated over 90% of its operated wells in the D-J Basin and the Permian Basin that the Company shut-in in response to the sharp decline in oil prices precipitated by decreased demand for oil caused by the COVID-19 outbreak and actions taken globally to stop the spread of the virus. The Company will continue to monitor oil prices with a view to resuming its 2020 development plan should oil prices recover to approximately $50 per barrel (WTI).
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