Pedevco Corp. (PED) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon and welcome to the Devco Corp.'s second quarter 2026 earnings conference call. All participants are in listening mode. After the prepared remarks, we will open the call for questions. I would now like to turn the call over to Laurent Wao of Elevate IR. Please go ahead. Thank you, operator, and good afternoon, everyone. Welcome to Pedevco's second quarter 2026 earnings call. With me today are Doug Schick, President and Chief Executive Officer, R.T. Dukes, Chief Operating Officer, and Bobby Long, Chief Financial Officer. Before we begin, I'd like to remind everyone that today's discussion includes forward-looking statements within the meaning of the federal securities laws, subject to risks and uncertainties that could cause actual results to differ materially from expectations. For more information, please refer to our second quarter 2026 form 10Q and other SEC filings. The company undertakes no obligation to update or revise any forward-looking statements. During today's call, we will discuss certain non-GAAP financial measures including adjusted EBITDA and working capital excluding derivative contract assets and liabilities. Reconciliations to the most directly comparable GAAP measures are available in our earnings release and 10Q filing. These non-GAAP measures should not be considered in isolation or as a substitute for GAAP results. I would also like to note that all per share and share count figures referenced today reflect the company's 1 for 20 reverse stock split effective March 13, 2026, applied retroactively to all periods presented. As of June 30, 2026, the company had approximately 13.3 million shares of common stock outstanding. Here is today's agenda. Doug will begin with opening remarks, followed by Archie with an operational update, and...