Company: PED
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001654954-25-005762
Chunk: 2

Company: PEDEVCO CORP
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 2
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 years beginning after December 15, 2027. Early adoption is permitted. The amendments may be applied either prospectively or retrospectively. The Company does not expect the standard to have a material effect on its consolidated financial statements and has begun evaluating disclosure presentation alternatives. Subsequent Events The Company has evaluated all transactions through the date the consolidated financial statements were issued for subsequent event disclosure consideration.

NOTE 4 – REVENUE FROM CONTRACTS WITH CUSTOMERS Disaggregation of Revenue from Contracts with Customers. The following table disaggregates revenue by significant product type in the periods indicated (in thousands):   Three Months Ended March 31,   2025  2024 Oil sales $7,074  $7,454 Natural gas sales  842   333 Natural gas liquids sales  820   329 Total revenue from customers $8,736  $8,116  There were no significant contract liabilities or transaction price allocations to any remaining performance obligations as of March 31, 2025. 

NOTE 5 – CASH AND CASH EQUIVALENTS The following table provides a reconciliation of cash and restricted cash reported within the balance sheets, which sum to the total of such amounts in the periods indicated (in thousands):    March 31, 2025  December 31, 2024 Cash  $10,413  $4,010 Restricted cash included in other assets*  2,747   2,597 Total cash and cash equivalents and restricted cash $13,160  $6,607  * Increase in restricted cash is related to additional collateral under for a surety bond required by the Colorado Bureau of Land Management with respect to the Company’s Colorado operations.

NOTE 6 – OIL AND GAS PROPERTIES The following table summarizes the Company’s oil and gas activities by classification for the three months ended March 31, 2025 (in thousands):   Balance at December 31, 2024  Additions  Disposals  Transfers  Balance at March 31, 2025 Oil and gas properties, subject to amortization $210,039  $442  $(2,028) $-  $208,453 Oil and gas properties, not subject to amortization  8,442   5,238   -   -   13