PEDEVCO Q1 net income falls to $0.8M; production rises to 1,478 BOEPD

PEDEVCO CORP

2024-Q1 EPS reported $0.01 revenue$8,116,000

Net income $0.8M ($0.01/sh) vs $1.8M ($0.02/sh) in Q1 2023; revenue $8.12M, down 1%.
Average production 1,478 BOEPD (84% liquids), up from 1,428 BOEPD YoY; 14 non-op wells came online.
Adjusted EBITDA $4.72M vs $4.86M; cash $15.5M, zero debt as of March 31, 2024.
Three Permian Basin wells with Evolution Petroleum peaked at 300-375 gross BOEPD, declines shallower than expected.
Colorado ECMC approved Roth 2-11 OGDP for up to 11 Niobrara wells on 2,560 acres.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PEDEVCO CORP reported three months ended March 31, 2024 results: revenue $8.12 million, net income $0.8 million, EPS $0.01 per basic and diluted share outstanding.

Period: three months ended March 31, 2024
Revenue: $8.12 million
Net income: $0.8 million
EPS: $0.01 per basic and diluted share outstanding
Result: reported results

Exact text from the filing

barrels of oil equivalent per day ("BOEPD") (84% liquids) in the three months ended March 31, 2024 (“Q1 2024”), compared to 1,428 BOEPD produced in Q1 2023. · Q1 2024 revenue of $8.12 million, decreasing $48,000 from Q1 2023. · Operating income of $0.6 million, decreasing 62% from Q1 2023. · Operating expenses (inclusive of general and administrative expenses,

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Source: SEC EDGAR

accession 0001654954-24-006423

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