---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-23-006585"
form_type: "8-K"
ticker: "PED"
cik: "0001141197"
company_name: "PEDEVCO CORP"
filed_at: "2023-05-15T23:59:59+00:00"
generated_at: "2026-06-15T00:39:25.743809+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# PEDEVCO Q1 2023: revenue $8.2M (+15%), net income $1.8M, zero debt, production 1,428 BOEPD

## Summary
- Revenue of $8.2M, up 15% from Q1 2022; net income $1.8M ($0.02 EPS) vs $1.3M in prior year.
- Adjusted EBITDA $4.9M, up 28% YoY; cash and equivalents $17.7M (incl. $3.55M restricted), zero debt.
- Production averaged 1,428 BOEPD (80.4% oil); realized oil price $72.19/bbl.
- Plans to drill 4 operated horizontal Niobrara wells (70% WI) in late 2023/early 2024 and participate in 7 non-operated wells (18% WI) in H2 2023.
- Operating expenses $6.5M, up 12% YoY; LOE $2.5M, DD&A $2.6M.

## SEC filing metadata
- accession: 0001654954-23-006585
- form_type: 8-K
- ticker: PED
- cik: 0001141197
- company_name: PEDEVCO CORP
- filed_at: 2023-05-15T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1141197/000165495423006585/0001654954-23-006585-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1141197/000165495423006585/ped_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-23-006585
- JSON: https://secwatch.observer/filing/0001654954-23-006585.json
- Plain text: https://secwatch.observer/filing/0001654954-23-006585.txt

## Key facts
- Earnings Releases
  PEDEVCO CORP reported the three months ended March 31, 2023 results: revenue $8.2 million, net income $1.8 million, EPS $0.02 per basic and diluted share outstanding.
  - Period: the three months ended March 31, 2023
  - Revenue: $8.2 million
  - Net income: $1.8 million
  - EPS: $0.02 per basic and diluted share outstanding
  - Result: reported results
  source text: Key Highlights Include: ● Produced an average of approximately 1,428 barrels of oil equivalent per day ("BOEPD") (80.4% oil) in the three months ended March 31, 2023 (“Q1 2023”), with Q1 2023 revenue of $8.2 million increasing 15% over revenue earned during the three months ended March 31, 2022 (“Q1 2022”). ● Reported operating income of $1.6 million and operating expenses (inclusive of general and administrative expenses, depreciation, depletion and amortization expenses and lease operating expenses) of $6.5 million, increasing 30% and 12%, respectively, from Q1 2022. ● Reported net income of $1.8 million, or $0.02 per basic and diluted share outstanding, compared to net income of $1.3 million, or $0.02 per basic and diluted share outstanding, in Q1 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1141197/000165495423006585/0001654954-23-006585-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.