Company: PED
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001654954-25-013092
Chunk: 169

Company: PEDEVCO CORP
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 169
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) to meet these requirements, but may not hedge more than 75% of anticipated production (on a barrel of oil equivalent basis) for any month.

Cash Flows (in thousands)

  Nine Months Ended September 30,   2025  2024 Cash flows provided by operating activities $12,905  $8,547 Cash flows used in investing activities  (5,982)  (22,098)Cash flows provided by financing activities  139   - Net increase (decrease) in cash and restricted cash $7,062  $(13,551)

Cash flows provided by operating activities. Net cash used in operating activities increased by $4.4 million for the current year’s period, when compared to the prior year’s period, primarily due to a decrease in net income of $8.2 million coupled with a $0.6 increase in deferred tax asset offset by a $0.4 million decrease in depreciation, depletion and amortization and by a $0.9 million impairment of oil and gas properties, and $1.4 million from a note receivable – credit loss , and a $1.7 million net increase to our other components of working capital (predominantly from increased expenses from our drilling and completion activities).

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Cash flows used in investing activities. Although total capital costs (accrued and cash) decreased to $17.7 million this period from $18.1 million last period (see extract table below from our Consolidated Statements of Cash Flows), net cash used in investing activities actually decreased by $16.1 million year-over-year primarily due to a decrease in cash only outlays from our capital spending relating to our drilling and completion activities offset by cash received from the sale of oil and gas properties.

  Nine Months EndedSeptember 30,    2025  2024 Cash paid for drilling and completion costs  (8,905)  (23,134)Change in accrued oil and gas development costs  (8,843)  5,009 Total capital costs   (17,748)  (18,125)

Cash flows from financing activities. Consisted of sales of our common stock via our ATM Offering in the current period (discussed above). There were no financing activities in the prior period.

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Non-GAAP Financial Measures

We have included EBITDA and