Company: PED
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001654954-25-003703
Chunk: 1589

Company: PEDEVCO CORP
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 1589
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$6,607  $20,715  * Increase in restricted cash is primarily related to additional collateral for surety bonds for the Company’s New Mexico operations, due to an updated assessment from the New Mexico Bureau of Land Management.

NOTE 6 – REVENUE FROM CONTRACTS WITH CUSTOMERS Disaggregation of Revenue from Contracts with Customers. The following table disaggregates revenue by significant product type for the years ended December 31, 2024 and 2023 (in thousands):   2024  2023 Oil sales $36,193  $27,925 Natural gas sales  1,216   1,438 Natural gas liquids sales  2,144   1,421 Total revenue from customers $39,553  $30,784  There were no significant contract liabilities or transaction price allocations to any remaining performance obligations as of December 31, 2024 or 2023, respectively. 

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NOTE 7 – OIL AND GAS PROPERTIES The following tables summarize the Company’s oil and gas activities by classification for the years ended December 31, 2024 and 2023, respectively (in thousands):    Balance at December 31,           Balance at December 31,   2023  Additions  Disposals  Transfers  2024   as Restated             Oil and gas properties, subject to amortization $185,403  $19,607  $(1,438) $6,467  $210,039 Oil and gas properties, not subject to amortization  12,407   2,502   -   (6,467)  8,442 Asset retirement costs  853   3,501   (28)  -   4,326 Accumulated depreciation, depletion and impairment  (104,384)  (14,911)  -   -   (119,295)Total oil and gas assets $94,279  $10,699  $(1,466) $-  $103,512                    Balance at December 31,      Balance at December 31,   2022  Additions  Disposals  Transfers  2023