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PEDEVCO is pursuing organic growth, operating-cost reductions and selective consolidation in the Rockies while its board searches for a permanent CEO. At a September 29, 2026 investor conference, interim President and CEO R.T. Dukes said the company was more than halfway through a plan targeting over $10 million in annualized lease operating expense (LOE) savings. That is management’s target and progress report—not confirmation that the full amount has been realized. The CEO search was still underway, with completion targeted for Q4 2026.
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. The company’s investor page describes the post-merger portfolio as more than 310,000 net acres. PEDEVCO investor overview
The Juniper merger closed on November 4, 2025, substantially expanding PEDEVCO’s Rockies position and production base. In its closing announcement, the company reported more than 328,000 net acres and production above 6,500 BOEPD, with over 80% oil. Those are figures reported at the close, not current 2026 production; the later investor-page acreage figure is dated to a different reporting period and should not be treated as directly interchangeable. PEDEVCO merger-close announcement
How PEDEVCO says it plans to grow in the Rockies
At the September 29, 2026 Lytham Partners Fall Investor Conference, Dukes described management’s priorities as organic growth, margin expansion and consolidation in the Rockies. Organic growth means developing and improving the company’s existing assets; consolidation is a separate ambition to pursue selective combinations in the region. The remarks set out management’s strategic framing, not a specific transaction announcement or a quantified production-growth forecast. Conference transcript coverage
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The company’s operating disclosures describe optimization work including pump conversions, compression projects, recompletions and well cleanouts. These are field-level projects intended to improve operations and economics; their execution, timing and results are not guaranteed by their inclusion in a plan. PEDEVCO preliminary Q4 and FY2025 results
What the $10 million cost-reduction target means
Management said it was pursuing more than $10 million in annualized LOE savings across this year and next, and Dukes reported that the program was more than halfway complete as of the September 29 conference. He said: “We will reiterate our plans to lower LOE between our program this year and next by over $10 million in annualized LOE savings.” This quotation is attributed to Dukes in the conference transcript coverage. “Annualized” describes the expected savings rate once measures are in effect; it does not mean PEDEVCO had already booked that entire amount as savings or achieved it for a full year.
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The company’s 2025 Form 10-K estimated $10 million to $13 million in 2026 capital expenditures for optimization projects. That is project spending, not the LOE savings target: one is a capex budget for work, while the other is an expected reduction in operating expense. PEDEVCO 2025 Form 10-K
CEO search: still in progress as of September 29
Dukes was interim President and CEO and Acting COO when he spoke at the conference. 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.” The statement gives the board’s target period; it does not establish that a permanent chief executive has been selected or that the search has concluded. Conference transcript coverage
Rank #3
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Financial context and what the figures do not show
PEDEVCO’s second-quarter 2026 results were summarized in the conference coverage as $46 million in revenue and approximately $18.9 million in adjusted EBITDA. These figures provide scale for the business during the period, but they do not establish how much of the annualized LOE target has been realized. The company’s quarterly filing and results materials are available through its investor news page and its Q2 2026 Form 10-Q.
PEDEVCO’s preliminary 2025 results, announced in March 2026, were explicitly preliminary and unaudited at the time. They should not be described as audited results. Company preliminary results filing
Quick Recap
Best Value
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Rank #4
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