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PEDEVCO Corp. Acquires 5,678 Net Acres in Wyoming BLM Lease Sale, Expanding Mowry Shale Position

PED
  • PEDEVCO Corp. was the high bidder on multiple BLM tracts in a September 9-10, 2026 lease sale.
  • The company acquired approximately 5,678 net acres in Wyoming's Powder River Basin for $5.9 million ($1,045 per net acre).
  • Funding for the acquisition was provided through existing cash on hand.
  • The new acreage targets the organic-rich, silica-rich Middle Mowry formation.
  • The acquisition nearly doubles PEDEVCO's position in this specific prospect area to approximately 12,000 net acres.
  • Lease terms include a ten-year primary term, a 12.5% royalty rate, \& an 87.5% Net Revenue Interest.
  • Nearby horizontal Mowry wells demonstrated strong regional productivity with averages of approximately 1,400 Boe/d during peak production.
  • PEDEVCO's portfolio spans over 300,000 net acres across the D-J Basin, Powder River Basin, \& Permian Basin.