PEDEVCO Q2 2024 production rises to 2,010 BOEPD, net income up 69% YoY to $2.7M

PEDEVCO CORP

2024-Q2 EPS reported $0.04 revenue$19,927,000

Q2 2024 production averaged 2,010 BOEPD (87% liquids), up from 1,660 BOEPD in Q2 2023.
Revenue $11.8M (+38% YoY); operating income $2.6M (+77%); net income $2.7M ($0.03/share) vs $1.6M ($0.02).
Adjusted EBITDA $7.4M (+48% YoY); zero debt; cash and restricted cash $8.7M at period end.
Thirteen non-op D-J Basin wells and three new Permian San Andres wells performed above expectations.
G&A flat YoY; company planning further D-J Basin and Permian development with partner Evolution Petroleum.

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