secwatch.observer — SEC 8-K summary
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Issuer:     PEDEVCO CORP (PED)
CIK:        0001141197
Form:       8-K
Filed at:   2023-11-09T23:59:59+00:00
Accession:  0001654954-23-014035
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 2.01, 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1141197/000165495423014035/0001654954-23-014035-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1141197/000165495423014035/ped_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-23-014035

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