PEDEVCO buys 5,678 net Wyoming acres in BLM lease sale for USD 5.9 million
PED•PEDEVCO expands Mowry Shale position in Wyoming
PEDEVCO bought 5,678 net acres in Wyoming in a Bureau of Land Management competitive lease sale, expanding its Mowry Shale position in the Powder River Basin.
Total consideration was USD 5.9 million, implying USD 1,045 per net acre; the purchase was funded with cash on hand.
The deal nearly doubles the company’s Mowry acreage in the prospect area to about 12,000 net acres.
The leases carry 10-year terms with a 12.5% royalty rate, supporting a longer development window.
