Company: PED
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001654954-25-003703
Chunk: 13

Company: PEDEVCO CORP
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 13
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Assumes 6 Mcf of natural gas equivalents to 1 barrel of oil.(2)Excludes workover costs, marketing, ad valorem, severance taxes and ARO Settlements.

As of December 31, 2024, the Wattenberg Field in our D-J Basin Asset and as of December 31, 2023 and 2022, the Chaveroo Field in our Permian Basin Asset and the Wattenberg Field in our D-J Basin Asset are the fields that each comprise 15% or more of our total proved reserves. The applicable production volumes from these fields for the years ended December 31, 2024, 2023, and 2022, are represented in the table below in total barrels (Bbls):

  2024  2023  2022 Chaveroo (Permian Asset Base)  -   168,458   211,310 Wattenberg (D-J Asset Base)  333,635   331,896   91,685 

The following table summarizes our gross and net developed and undeveloped leasehold acreage Iat December 31, 2024:

  Total  Developed (1)  Undeveloped (2)   Gross  Net  Gross  Net  Gross  Net D-J Basin  82,560   18,669   69,760   11,150   12,800   7,519 Permian Basin  26,240   14,105   21,760   13,785   4,980   320 Total  108,800   32,774   91,520   24,935   17,280   7,839 

(1) Developed acreage is the number of acres that are allocated or assignable to producing wells or wells capable of production.

(2) Undeveloped acreage is lease acreage on which wells have not been drilled or completed to a point that would permit the production of commercial quantities of oil and natural gas regardless of whether such acreage includes proved reserves.

We believe we have satisfactory title, in all material respects, to substantially all of our producing properties in accordance with standards generally accepted in the oil and natural gas industry.

Total Net Undeveloped Acreage Expiration

In the