Company: PED
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001654954-25-003703
Chunk: 14

Company: PEDEVCO CORP
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 14
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 event that production is not established or we take no action to extend or renew the terms of our leases, our net undeveloped acreage that will expire over the next three years as follows: (i) in the D-J Basin Asset, 809 net acres are set to expire during 2025 (net to our direct ownership interest only), with 3,662 and 1,657 net acres set to expire for the years ending December 31, 2026 and 2027 respectively, and 508.53 net acres thereafter; and (ii) in the Permian Basin Asset only 200 net acres are set to expire for the year ending December 31, 2026, (net to our direct ownership interest only), with all of the remaining acreage currently held by production. We expect to retain substantially all of our expiring acreage either through drilling activities, renewal of the expiring leases or through the exercise of extension options. 

 20Table of Contents

Well Summary

The following table presents our ownership in productive crude oil and natural gas wells at December 31, 2024. This summary includes crude oil wells in which we have a working interest:

  Gross  Net Crude oil  117.0   59.3 Natural gas  -   - Total*  117.0   59.3 

* Total percentage of gross operated wells is 47.0%.

Drilling Activity

We drilled wells or participated in the drilling of wells as indicated in the table below:

  2024  2023  2022   Gross  Net  Gross  Net  Gross  Net Development                  Productive  27   5.1   8   0.4   8   4.1 Dry  -   -   -   -   -   - Exploratory                        Productive  -   -   -   -   -   - Dry  -   -   -   -   -   - 

Oil and Natural Gas Reserves

Reserve Information. For estimates of the Company’s net proved producing reserves of crude oil and natural gas, as well as discussion of the Company’s proved and probable undeveloped reserves, see “Part II” - “Item 8 Financial Statements