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

Issuer:     PEDEVCO CORP (PED)
CIK:        0001141197
Form:       8-K
Filed at:   2024-05-15T23:59:59+00:00
Accession:  0001654954-24-006423
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1141197/000165495424006423/0001654954-24-006423-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1141197/000165495424006423/ped_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-006423

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