PEDEVCO reports 2023 production up 43% YoY to 1,427 BOEPD; net income $0.3M vs $2.8M

PEDEVCO CORP

Revenue $31M (+2% YoY); adjusted EBITDA $17.5M (+8%); zero debt; cash $20.7M.
Net income $0.3M ($0.00/diluted share) vs $2.8M ($0.03) in 2022, impacted by $4.3M loss on sale of non-core assets.
2024 capex guided $20-30M, including $17-27M for drilling in Permian and D-J Basin.
Sale of EOR Operating subsidiary reduced plugging liabilities by over $3.2M and lowers monthly LOE.
Average realized price $59.10/boe, down 28% YoY; oil production 382,794 barrels (74% of total).

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PEDEVCO CORP reported the year ended December 31, 2023 results: revenue $31 million, net income $0.3 million, EPS $0.00 per basic diluted share outstanding.

Period: the year ended December 31, 2023
Revenue: $31 million
Net income: $0.3 million
EPS: $0.00 per basic diluted share outstanding
Result: reported results

Exact text from the filing

EBITDA, a non-GAAP financial measure (discussed in greater detail below), increased 8% to $17.5 million in 2023, compared to $16.1 million in 2022. · Reported revenue of $31 million, increasing 2% over 2022 revenue. · Reported operating loss of $0.2 million and operating expenses (inclusive of general and administrative expenses, depreciation, depletion and

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Source: SEC EDGAR

accession 0001654954-24-003246

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