---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-24-006423"
form_type: "8-K"
ticker: "PED"
cik: "0001141197"
company_name: "PEDEVCO CORP"
filed_at: "2024-05-15T23:59:59+00:00"
generated_at: "2026-06-01T22:39:13.220923+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001654954-24-006423
- form_type: 8-K
- ticker: PED
- cik: 0001141197
- company_name: PEDEVCO CORP
- filed_at: 2024-05-15T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1141197/000165495424006423/0001654954-24-006423-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1141197/000165495424006423/ped_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-24-006423
- JSON: https://secwatch.observer/filing/0001654954-24-006423.json
- Plain text: https://secwatch.observer/filing/0001654954-24-006423.txt

## Key facts
- Earnings Releases
  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
  source text: 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,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1141197/000165495424006423/0001654954-24-006423-index.htm

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