Company: PED
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001654954-25-013092
Chunk: 9

Company: PEDEVCO CORP
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 9
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 included in the table below (in thousands):   Nine Months Ended    September 30, 2025 Cash paid for amounts included in the measurement of lease liabilities $122 

 12Table of Contents

 Supplemental balance sheet information related to operating leases is included in the table below (in thousands):   September 30, 2025 Operating lease – right-of-use asset $256      Operating lease liabilities - current $178 Operating lease liabilities - long-term  79 Total lease liability $257  The weighted-average remaining lease term for the Company’s operating lease is 1.4 years as of September 30, 2025, with a weighted-average discount rate of 7.90%. Lease liability with enforceable contract terms that have greater than one-year terms are as follows (in thousands): Remainder of 2025 $47 2026  191 Thereafter  32 Total lease payments  270 Less imputed interest  (13)Total lease liability $257  Leasehold Drilling Commitments The Company’s oil and gas leasehold acreage is subject to expiration of leases if the Company does not drill and hold such acreage by production or otherwise exercise options to extend such leases, if available, in exchange for payment of additional cash consideration. In the D-J Basin, no net acres expire during the remainder of 2025, and 7,229 net acres expire within the next two-year period (net to our direct ownership interest only). In the Permian Basin, no net acres are due to expire during the remainder of 2025, and no net acres expire within the next two-year period (net to our direct ownership interest only). The Company plans to hold significantly all of this acreage through a program of drilling and completing producing wells. If the Company is not able to drill and complete a well before lease expiration, the Company may seek to extend leases where able.  Other Commitments Although the Company may, from time to time, be involved in litigation and claims arising out of its operations in the normal course of business, the Company is not currently a party to any material legal proceeding. In addition, the Company is not aware of any material legal or governmental proceedings against it or contemplated to be brought against it. As part of its regular operations, the Company may become party to various pending or threatened claims, lawsuits and administrative proceedings