secwatch.observer — SEC 8-K summary
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Issuer:     PEDEVCO CORP (PED)
CIK:        0001141197
Form:       8-K
Filed at:   2023-03-29T23:59:59+00:00
Accession:  0001654954-23-003761
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PEDEVCO reports 2022 net income of $2.8M, revenue up 89% to $30M, zero debt
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- Revenue $30M (+89% YoY); net income $2.8M ($0.03/share) vs net loss $1.3M in 2021.
- Adjusted EBITDA $16.1M (+157% YoY); cash $32.98M (incl. $3.55M restricted) and zero debt.
- 2022 average production ~1,000 BOEPD (83.5% oil); average realized price $82.34/BOE (+38%).
- Expects production growth in H1 2023 from 14 non-operated D-J Basin wells; 5 operated wells planned late 2023/early 2024.
- 2023 net capex estimated $25M-$35M; plans to participate in 6 additional non-operated wells in H2 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1141197/000165495423003761/0001654954-23-003761-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1141197/000165495423003761/ped_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-23-003761

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer