PEDEVCO Corp.
PEDPEDEVCO Corp. (PED) is an oil and natural gas exploration and production company focused on developing assets in the United States. The company primarily operates in onshore U.S. shale formations, leveraging advanced drilling and production techniques to extract hydrocarbons. PEDEVCO aims to maximize resource recovery and deliver value to its shareholders through strategic asset management and operational efficiencies.
Company News
PEDEVCO Corp. completed a merger with portfolio companies controlled by Juniper Capital Advisors, acquiring substantial oil-producing assets in the Northern DJ and Powder River Basins. The transaction positions PEDEVCO as a premier Rockies-focused operator with over 6,500 BOEPD production and 328,000 net acres.
ExxonMobil is looking to sell a portion of its Bakken shale assets in North Dakota for at least $500 million as part of its strategy to streamline its portfolio and focus on higher-growth regions.
Eni has been awarded an agreement for lease by The Crown Estate for a carbon capture and storage project in the UK. The project, called HyNet, aims to capture and store up to 10 million tons of carbon dioxide per year by 2030, contributing to the UK's decarbonization efforts.
The article discusses three stocks that investors should consider accumulating during the current market pullback: Costco (COST), Pedevco (PED), and AMD (AMD). The author believes these companies are well-positioned to weather the September woes and provide long-term growth potential.
Kodiak Gas Services, PEDEVCO and Profire Energy have been highlighted in this Industry Outlook article.
