---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-23-014035"
form_type: "8-K"
ticker: "PED"
cik: "0001141197"
company_name: "PEDEVCO CORP"
filed_at: "2023-11-09T23:59:59+00:00"
generated_at: "2026-06-08T06:06:24.323039+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# PEDEVCO sells non-core Permian assets for $1.12M, reduces P&A liabilities by $3.2M; Q3 net income $0.95M

## Summary
- Sold non-core legacy vertical Milnesand and Sawyer Fields for ~$1.12M consideration, reducing estimated P&A liabilities by over $3.2M.
- Q3 2023 net income of $0.95M ($0.01/sh) on revenue of $7.33M, compared to net income of $1.1M in Q3 2022.
- Production averaged 1,376 BOEPD (81% liquids), up from 960 BOEPD in Q3 2022; adjusted EBITDA rose 14% to $4.4M.
- Zero debt and $16.7M cash (incl. $3.55M restricted) as of Sep 30, 2023; drilling three horizontal San Andres wells in Chaveroo Field.
- Elected to participate in seven non-operated D-J Basin wells (~18% WI) and six non-operated wells (~5% WI); up to ten operated Niobrara wells being permitted.

## SEC filing metadata
- accession: 0001654954-23-014035
- form_type: 8-K
- ticker: PED
- cik: 0001141197
- company_name: PEDEVCO CORP
- filed_at: 2023-11-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.01, 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1141197/000165495423014035/0001654954-23-014035-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1141197/000165495423014035/ped_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-23-014035
- JSON: https://secwatch.observer/filing/0001654954-23-014035.json
- Plain text: https://secwatch.observer/filing/0001654954-23-014035.txt

## Key facts
- Earnings Releases
  PEDEVCO CORP reported three-months ended September 30, 2023 results: revenue $7.33 million, net income $0.95 million, or $0.01 per basic and diluted share outstanding, EPS $0.01 per basic and diluted share outstanding.
  - Period: three-months ended September 30, 2023
  - Revenue: $7.33 million
  - Net income: $0.95 million, or $0.01 per basic and diluted share outstanding
  - EPS: $0.01 per basic and diluted share outstanding
  - Result: reported results
  source text: of oil equivalent per day ("BOEPD") (81.0% liquids) in the three months ended September 30, 2023 (“Q3 2023”), compared to 960 BOEPD produced in Q3 2022. · Q3 2023 revenue of $7.33 million, decreasing 2% from Q3 2022. · Operating income of $0.9 million, decreasing 16% from Q3 2022. · Operating expenses (inclusive of general and administrative expenses,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1141197/000165495423014035/0001654954-23-014035-index.htm
- M&A Transactions
  PEDEVCO CORP completed a disposition involving Tilloo Exploration and Production, LLC for $1,122,436 (closed 2023-11-09).
  - Action: disposition
  - Counterparty: Tilloo Exploration and Production, LLC
  - Consideration: $1,122,436
  - Closing: 2023-11-09
  source text: Pursuant to the Purchase Agreement, we (through PEDCO and our wholly-owned subsidiary EOR Operating Company (“ EOR ”)) agreed to sell certain oil and gas assets described in greater detail below (collectively, the “ Assets ”), and pursuant to the Stock Purchase Agreement we agreed to sell 100% of the capital stock of EOR, which operates most of the Assets, to Tilloo for aggregate consideration of $1,122,436 (the “ Sales Price ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1141197/000165495423014035/0001654954-23-014035-index.htm

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