Company: PED
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001654954-25-013092
Chunk: 43

Company: PEDEVCO CORP
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 43
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 third-party D-J Basin wells and our Permian Basin wells along with our drilling partner, which were completed last period and initially produced at much higher rates. 

 31Table of Contents

Operating Expenses and Other Income (Expense)

The following table summarizes our production costs and operating expenses for the periods indicated (in thousands): 

  Nine Months Ended          September 30,   Increase  % Increase   2025  2024   (Decrease)   (Decrease) Direct Lease Operating Expenses  $4,362  $4,670  $(308) (7%) Workovers   709   859   (150) (17%) Other*  3,234   3,106   128   4%Total Lease Operating Expenses $8,305  $8,635  $(330) (4%)                  Depreciation, Depletion,                 Amortization and Accretion  $11,213  $10,782  $431   4%Impairment of Oil and Gas Properties $907  $-  $907   100%                 General and Administrative (Cash) $3,329  $2,820  $509   18%Share-Based Compensation (Non-Cash)  1,486   1,401   85   6%Total General and Administrative Expense  $4,815  $4,221  $594   14%                 Gain on Sale of Oil and Gas Properties $1,021  $735  $286   39%Gain on Sale of Fixed Asset $-  $12  $(12) (100%) Note receivable – Credit Loss $1,378  $-  $1,378   100%Interest Expense $102  $-  $102   100%Interest Income $196  $326  $(130) (40%) Other Income (Expense) $395  $(43) $438   1,019%

*Includes severance, ad valorem taxes, assessment and gathering, transportation and processing costs.

Lease Operating Expenses. The decrease of $0.3 million was primarily due to lower direct and variable lease operating