PEDEVCO Corp. acquired approximately 5,678 net acres in Wyoming's Powder River Basin through a Bureau of Land Management lease sale held September 9-10, 2026. The company paid approximately $5.9 million, or $1,045 per net acre, for the high-bid tracts targeting the Mowry Shale formation. This transaction nearly doubles PEDEVCO's position in this specific prospect area to approximately 12,000 net acres and was funded using cash on hand. The leases feature ten-year terms and a 12.5% royalty rate, allowing the company to retain an 87.5% Net Revenue Interest. PEDEVCO Corp. is an energy company engaged in the acquisition and development of strategic oil and gas assets in the Rocky Mountain region.
