Company: PED
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001654954-25-013092
Chunk: 4

Company: PEDEVCO CORP
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 4
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 2024 Cash  $10,922  $4,010 Restricted cash included in other assets*  2,747   2,597 Total cash and restricted cash $13,669  $6,607  * Increase in restricted cash is related to additional collateral for a surety bond required by the Colorado Bureau of Land Management with respect to the Company’s Colorado operations.

NOTE 6 – OIL AND GAS PROPERTIES The following table summarizes the Company’s oil and gas activities by classification for the nine months ended September 30, 2025 (in thousands):   December 31, 2024*  Additions  Disposals  Transfers  September 30, 2025 Oil and gas properties, subject to amortization $210,039  $3,296  $(288) $5,561  $218,608 Oil and gas properties, not subject to amortization  14,738   14,452   (2,028)  (5,561)  21,601 Asset retirement costs  4,326   476   (91)  -   4,711 Accumulated depreciation and depletion  (81,015)  (10,591)  -   -   (91,606)Accumulated impairment  (44,576)  (907)  -   -   (45,483)Total oil and gas properties, net $103,512  $6,726  $(2,407) $-  $107,831  *Certain reclassifications have been made to prior period amounts to conform to the current period’s presentation, which had no effect on the previously reported total assets, total liabilities, total shareholders’ equity, results of operations or cash flows. For the nine-month period ended September 30, 2025, the Company incurred $17,220,000 of capital costs primarily related to the Company’s completion operations with respect to four operated wells drilled and completed with a third-party as well as five lift conversions in the Permian Basin. The Company also participated in the drilling and/or completion of 23 non-operated wells in the D-J Basin for which production has yet to begin ranging from 8% to 44% working interest. Additionally, the