Company: PED
Filing Date: 2025-10-29
Form Type: 10-K/A
Source: 0001654954-25-012328
Chunk: 167

Company: PEDEVCO CORP
Filing Date: 2025-10-29
Form: 10-K/A
Chunk 167
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99 MBoe of sale of interests in certain non-operated wellbores in DJ-Basin.

Production: Includes 585 MBoe of production from our NM and DJ-Basin assets.

| 117 |

RESERVES

During the year ended December 31, 2024, the Company’s reserves increased by 1.1 MMBoe of proved reserves. Included in the increase, the Company had a 0.95 MMBoe increase in proved undeveloped reserves (noted below) resulting primarily from the addition of volumes in the D-J Basin due to increased activity. The Company also had an increase of 1.2 MMBoe in proved developed producing reserves related to acquisition of properties in the D-J Basin and reclassification of wells from proved developed non-producing at the end of 2023 to proved developed producing for 2024, which offset the natural decline in existing production base in the D-J Basin Asset and Permian Basin.

The following table sets forth the Company’s proved developed and undeveloped reserves at December 31, 2024 and 2023, respectively:

| Proved Developed Producing Reserves     |     | 2024 |        |     | 2023 |        |     | 2022 |        |
| Crude Oil (MBbls)                       |     |      |  2,443 |     |      |  1,869 |     |      |  2,147 |
| Natural Gas (Mmcf)                      |     |      |  4,292 |     |      |  2,998 |     |      |  3,150 |
| NGL (MBbls)                             |     |      |    630 |     |      |    255 |     |      |    304 |
| Oil Equivalents (MBoe)                  |     |      |  3,788 |     |      |  2,624 |     |      |  2,976 |
| Proved Developed Non-Producing Reserves |     |      |        |     |      |        |     |      |        |
| Crude Oil (MBbls)                       |     |      |     13 |     |      |    702 |     |      |    146 |
| Natural Gas (Mmcf)                      |     |      |     44 |     |      |  1,229 |     |