secwatch.observer — SEC 8-K summary
======================================

Issuer:     PEDEVCO CORP (PED)
CIK:        0001141197
Form:       8-K
Filed at:   2024-03-18T23:59:59+00:00
Accession:  0001654954-24-003246
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1141197/000165495424003246/0001654954-24-003246-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1141197/000165495424003246/ped_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-003246

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