PEDEVCO Acquires 5,678 Net Acres in Wyoming's Powder River Basin for $5.9M
PEDEVCO (PED) has acquired approximately 5,678 net acres in the Powder River Basin of Wyoming through a competitive lease sale held by the Bureau of Land Management (BLM). The company paid around $5.9 million, or an average of $1,045 per net acre, using cash on hand to fund the acquisition. This expansion strengthens PEDEVCO’s position in what is considered a highly prospective area for energy development. By acquiring additional land at this lease sale, the company aims to enhance its resource base and long-term growth potential.
Tickers: $PED
Topics: acquisition BLM lease sale oil & gas