Company: PED
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001654954-25-009652
Chunk: 32

Company: PEDEVCO CORP
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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 and Accretion  $7,203  $7,727  $(524) (7%) Impairment of Oil and Gas Properties $742  $-  $742  100%                 General and Administrative (Cash) $2,340  $1,941  $399  21% Share-Based Compensation (Non-Cash)  949   937   12  1% Total General and Administrative Expense  $3,289  $2,878  $411  14%                 Gain on Sale of Oil and Gas Properties $1,021  $-  $1,021  100% Gain on Sale of Fixed Asset $-  $12  $(12) (100%) Note Receivable - Credit Loss $1,378  $-  $1,378  100% Interest Income $127  $242  $(115) (48%) Other Income (Expense) $17  $(43) $60  (140%) 

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

Lease Operating Expenses. The increase of $0.1 million was primarily due to higher direct and variable lease operating expenses associated with the higher oil volume in Q1 2025, which was offset by lower direct and variable lease operating expenses associated with the lower crude oil volumes resulting from the production volume declines in Q2 2025 noted above.

Depreciation, Depletion, Amortization and Accretion. The $0.5 million decrease was primarily the result of lower crude oil volumes resulting from the production volume declines, primarily from Q2 2025, as noted above.

Impairment of Oil and Gas Properties. The Company recorded an impairment of oil and gas properties of $0.7 million related to undeveloped leases representing 1,007 net acres in the D-J Basin that it allowed to expire or currently have no plans to drill prior to expiration, in the current period. There was no impairment in the prior period.

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General and Administrative Expenses (excluding share-based compensation). The $0.4 million increase was primarily the result of additional payroll, audit fees and software licensing fees.

Share-Based Compensation. Share-based compensation, which is included in general and administrative