Company: PED
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001654954-25-013092
Chunk: 161

Company: PEDEVCO CORP
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 161
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%) Workovers   -   124   (124) (100%) Other*  914   829   85   10%Total Lease Operating Expenses $2,095  $2,556  $(461) (18%)                  Depreciation, Depletion,                 Amortization and Accretion $4,010  $3,055  $955   31%Impairment of Oil and Gas Properties $165  $-  $165   100%                 General and Administrative (Cash) $988  $879  $109   12%Share-Based Compensation (Non-Cash)  537   464   73   16%Total General and Administrative Expense  $1,525  $1,343  $182   14%                 Gain on Sale of Oil and Gas Properties $-  $735  $(735)  100%Interest Expense $102  $-  $102   100%Interest Income $69  $84  $(15) (18%) Other Income $378  $-  $378   100%

* Includes severance, ad valorem taxes, assessment and gathering, transportation and processing costs.

 29Table of Contents

Lease Operating Expenses. The decrease of $0.5 million was primarily due to lower direct and variable lease operating expenses associated with the lower crude oil, natural gas and NGL volumes resulting from the production volume declines noted above.

Depreciation, Depletion, Amortization and Accretion. The $1.0 million increase was primarily the result of additional capital spending related to lift conversions on five operated wells in our Permian Basin Asset and additional accretion expenses from our increased ARO liability from our compliance order with the New Mexico OCD. 

Impairment of Oil and Gas Properties. The Company recorded an impairment of oil and gas properties of $0.2 million related to undeveloped leases representing 187 net acres in the D-J Basin that it allowed to expire or currently have no plans to drill prior to expiration, in the current period. There was no impairment in the prior period.

General and Administrative Expenses (excluding share-based compensation). The $0.1 million increase was primarily the result of additional payroll, audit fees and software