Pedevco Corp. (PED)

[RyGuy]

$PED 8/9/22 Devon Energy buys Validus for $1.8Billion.

spglobal.com/commodityinsig...

Devon Energy made what it called a $1.8 billion "bolt on" acquisition Aug. 9 of privately held Validus Energy

The acquisition consists of 42,000 net acres in Karnes County, Texas, adjacent to Devon's DeWitt County position. The acreage comes with a current 35,000 boe/d of production, 70% oil, which is projected to rise to 40,000 boe/d in 2023, the company said.

Acres - 42,000
Price - $1.8 Billion
Boe/d - 35,000
Per Acre - $42,857

I know PED won't be acquired for $42 per acre with roughly 3,000 boe/d spread across the 53,700 acres and interests....

But valuing PED at $1.20 per share is just insane... What is PED legitimately worth in an acquisition scenario.... That is where I think we get paid.

$5,000 per acre = $3.14 share price
$7,500 per acre = $4.71 share price
$10,000 per acre = $6.28 share price
$12,500 per acre = $7.85 share price
$15,000 per acre = $9.42 share price