PEDEVCO says it is pursuing organic growth, operating-cost reductions and selective consolidation in the Rockies while its board searches for a permanent CEO. At the September 29, 2026 Lytham Partners conference, interim President and CEO R.T. Dukes said management had completed more than half of a plan targeting over $10 million in annualized lease operating expense (LOE) savings. That is a company-reported target and progress update—not confirmation that the full savings have been realized.
What PEDEVCO owns after the Juniper merger
PEDEVCO’s enlarged portfolio spans three operating areas: the Denver-Julesburg (D-J) Basin in southeastern Wyoming and northern Colorado, the Powder River Basin in northeastern Wyoming, and Permian Basin assets in eastern New Mexico. Its investor page describes more than 310,000 net acres following the Juniper merger. PEDEVCO investor overview
The merger closed in October 2025 and expanded the company’s Rockies position and production base. In its November 4, 2025 closing announcement, PEDEVCO reported more than 6,500 barrels of oil equivalent per day (BOEPD), over 80% oil, and more than 328,000 net acres at closing. Those are close-date company figures; they should not be read as current 2026 production or combined with the later acreage figure as if both were measured on the same date or basis. PEDEVCO merger-close announcement
How the company says it plans to grow in the Rockies
At the September 29, 2026 Lytham Partners Fall Investor Conference, interim CEO R.T. Dukes described PEDEVCO’s priorities as organic growth, margin expansion and consolidation in the Rockies. This is management’s strategic framing, not a guarantee of future production growth or acquisitions. Conference transcript coverage
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Organic growth and consolidation are distinct levers. Organic growth means seeking additional value from the company’s existing properties and operations; consolidation would involve selectively combining or expanding positions in the region. The company’s stated focus puts both on the table, but the conference remarks do not establish that a specific acquisition has been agreed or that any particular growth project will succeed.
What the $10 million savings target means
Dukes said PEDEVCO planned to lower LOE by more than $10 million on an annualized basis through its program this year and next. At the same conference, he said the company was more than halfway through the plan. These are management’s target and progress report as of September 29, 2026; the conference coverage does not independently verify realized savings. Conference transcript coverage
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LOE is the recurring cost of operating producing wells and related field facilities. Lower LOE can improve the margin earned from production, but a savings target is not the same as a reported reduction in actual expenses. PEDEVCO’s 2025 Form 10-K describes optimization activities including pump conversions, compression projects, recompletions and well cleanouts. Such work must be executed in the field, and the filing’s project descriptions do not establish that every activity will deliver a particular savings amount. PEDEVCO 2025 Form 10-K
Do not confuse project spending with expected savings
The Form 10-K estimated $10 million to $13 million in 2026 capital expenditures for optimization projects. That is a spending estimate, separate from management’s conference target of more than $10 million in annualized LOE savings. One is planned investment; the other is the operating-cost reduction the company says it is pursuing. They are not interchangeable figures. PEDEVCO 2025 Form 10-K
Has PEDEVCO found a permanent CEO?
As of Dukes’s September 29, 2026 conference remarks, he was interim President and CEO and Acting COO. He said the board planned to search for a full-time CEO through Q4 2026: “The board decided to make a change, and they will be going through a search for a full-time CEO through Q4.” That describes a search and its stated target period; it does not establish that a permanent CEO has been selected or that the process will conclude by a particular date. The quotation is attributed to Dukes at the conference as reported in transcript coverage, rather than to an official company transcript. Conference transcript coverage
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Financial context and what the figures do—and do not—show
PEDEVCO’s second-quarter 2026 results were summarized in the September conference coverage as $46 million in revenue and approximately $18.9 million in adjusted EBITDA. The company’s Q2 filing provides the primary financial disclosure. These quarterly figures describe that reporting period; on their own, they do not demonstrate that the annualized LOE target has been achieved. PEDEVCO Q2 2026 Form 10-Q PEDEVCO investor news
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The company’s March 2026 preliminary 2025 results were explicitly preliminary and unaudited when announced. They should not be described as audited results. PEDEVCO preliminary Q4 and FY2025 results
For readers assessing the company’s plans, the key distinctions are between the expanded portfolio and future growth opportunities, an LOE savings target versus savings actually recorded, and a CEO search target versus a completed appointment. PEDEVCO’s statements establish its stated priorities and reported progress, not the outcome of those efforts.
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