Company: PED
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001654954-25-013092
Chunk: 114

Company: PEDEVCO CORP
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 114
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 consolidated financial statements and notes thereto included in this Quarterly Report on Form 10-Q. The majority of the numbers presented below are rounded numbers and should be considered as approximate.

Three Months Ended September 30, 2025, vs. Three Months Ended September 30, 2024

We reported a net loss for the three-month period ended September 30, 2025, of $0.3 million, or ($0.00) per common share, compared to net income for the three-month period ended September 30, 2024 of $2.9 million or $0.03 per share. The decrease in net income of $3.2 million, when comparing the current period to the prior year’s period, was primarily due to a $0.8 million increase in total operating expense (which includes an impairment of oil and gas properties of $0.2 million), coupled with a decrease of revenues of $2.1 million and a $0.7 million gain in sale of oil and gas properties in the prior period offset with $0.2 million increased in other income (each discussed in more detail below) and an income tax benefit of $0.2 million (see Note 13 – Income Taxes, in the notes to the consolidated financial statements above under “Part I – Financial Information—Item 1. Financial Statements”).

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Net Revenues

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

   Three Months Ended         September 30,   Increase   % Increase   2025  2024  (Decrease)  (Decrease) Sale Volumes:            Crude Oil (Bbls)  96,864   108,810   (11,946) (11%) Natural Gas (Mcf)  128,369   142,669   (14,300) (10%) NGL (Bbls)  17,007   23,508   (6,501) (28%) Total (Boe) (1)  135,266   156,096   (20,830) (13%)                 Crude Oil (Bbls per day)  1,053   1,183   (130) (11%) Natural Gas (Mcf per day)  1,395