Company: PED
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001654954-25-009652
Chunk: 30

Company: PEDEVCO CORP
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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ivable - credit loss related to the full write-off of the Tilloo Note receivable, corresponding accrued interest and posting closing adjustments owed to the Company related to the sale of our EOR subsidiary and other reductions to operating income of 4.0 million (a $4.2 million reduction in revenue, and a $0.7 million impairment to oil and gas properties and a $0.1 million of other operating expenses), offset by a $1.0 million gain on sale on oil and gas properties from the sale of our operated wells in the D-J Basin (each discussed in more detail below) and an income tax benefit of $0.4 million (see Note 13 – Income Taxes, in the notes to the consolidated financial statements above under “Part I – Financial Information—Item 1. Financial Statements”). 

Net Revenues

The following table sets forth the operating results and production data for the periods indicated:

  Six Months EndedJune 30,   Increase  % Increase   2025  2024  (Decrease)  (Decrease) Sale Volumes:            Crude Oil (Bbls)  202,931   240,375   (37,444) (16%) Natural Gas (Mcf)  286,227   277,514   8,713  3% NGL (Bbls)  41,006   30,640   10,366  34% Total (Boe) (1)  291,642   317,267   (25,625) (8%)                 Crude Oil (Bbls per day)  1,121   1,321   (200) (15%) Natural Gas (Mcf per day)  1,581   1,525   56  4% NGL (Bbls per day)  227   168   59  35% Total (Boe per day) (1)  1,612   1,743   (131) (8%)                 Average Sale Price:               Crude Oil ($/Bbl) $65.32  $76.57  $(11.25) (15%) Natural Gas ($/Mcf)  4.07