Summary of PEDEVCO's Investor Conference Call Company and Industry - **Company**: PEDEVCO Corp (NYSEAM: PED) - **Industry**: Oil and Gas, specifically focused on the Rockies region including the DJ Basin and Powder River Basin Key Points and Arguments 1. **Merger Announcement**: PEDEVCO announced a transformative merger with Juniper Capital's Rockies portfolio, enhancing its position as a premier operator in the Rockies region [4][5][21] 2. **Increased Scale and Diversification**: The merger significantly increases PEDEVCO's scale and diversification, controlling over 328,000 net acres, with approximately 95% located in the Rockies [6][13] 3. **Production and Cash Flow**: The combined company is expected to generate substantial free cash flow, with current production exceeding 6,500 barrels of oil equivalent per day and projected EBITDA contributions in 2025 and beyond [5][21] 4. **Operational Synergies**: The merger allows for operational synergies, optimizing drilling and services, and leveraging PEDEVCO's disciplined development approach [5][22] 5. **Ownership Structure**: Juniper affiliates will own 53% of the combined company post-merger, ensuring alignment of interests and commitment to growth [7][22] 6. **Financial Position**: PEDEVCO has reinforced its balance sheet, increasing its borrowing base from $20 million to $120 million and drawing $87 million to fund the merger [9][18] 7. **Management Team**: The combined management team brings extensive operational and financial expertise, enhancing PEDEVCO's capacity for growth [11][12] 8. **Future Development Plans**: The company plans to focus on the DJ Basin for immediate development while considering the Powder River Basin for future growth opportunities [15][46] 9. **Consolidation Strategy**: PEDEVCO aims to consolidate small operators in the Rockies region, evaluating potential acquisitions for strategic fit and cash flow accretion [17][30] 10. **Long-term Growth Strategy**: The company is committed to a disciplined return-focused strategy, maximizing margins while maintaining a lean cost structure [20][23] Other Important Content - **Production Metrics**: The last twelve months combined production was approximately 8,500 barrels of oil equivalent per day, generating $96 million in EBITDA [6][21] - **Asset Quality**: The combined portfolio includes hundreds of delineated locations across multiple stacked formations, providing over a decade of low-risk drilling inventory [23][24] - **Market Positioning**: The merger positions PEDEVCO to capitalize on the fragmented operator landscape in the Rockies, aiming to become a leading publicly traded oil and gas company [17][22] - **Liquidity and Debt Management**: The company maintains a conservative credit profile with approximately $77 million in net debt and $43 million in liquidity available for future developments [18][19] This summary encapsulates the key aspects of PEDEVCO's investor conference call, highlighting the strategic significance of the merger and the company's future direction in the oil and gas industry.