Company: PED
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001654954-25-003703
Chunk: 691

Company: PEDEVCO CORP
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 691
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 44Table of Contents

 ·speculative trading of oil, NGLs and natural gas futures contracts;    ·localized supply and demand fundamentals, including the availability, proximity and capacity of gathering and transportation systems for natural gas;    ·the availability of refining capacity;    ·the prices and availability of alternative fuel sources;    ·the threat, or perceived threat, or results, of viral pandemics, for example, as experienced with the COVID-19 pandemic in 2020 and 2021;    ·weather conditions and natural disasters;    ·political conditions in or affecting oil, NGLs and natural gas producing regions and/or pipelines, including in Eastern Europe, the Middle East and South America, for example, as experienced with the Russian invasion of the Ukraine in February 2022, and the current armed conflict in Israel and the Gaza Strip, which conflicts are ongoing;    ·the continued threat of terrorism and the impact of military action and civil unrest;    ·public pressure on, and legislative and regulatory interest within, federal, state and local governments to stop, significantly limit or regulate hydraulic fracturing activities;    ·the level of global oil, NGL and natural gas inventories and exploration and production activity;    ·authorization of exports from the Unites States of liquefied natural gas;    ·the impact of energy conservation efforts;    ·technological advances affecting energy consumption; and    ·overall worldwide economic conditions.

Declines in oil, NGL or natural gas prices have not, and will not, only reduce our revenue, but have and will reduce the amount of oil, NGL and natural gas that we can produce economically. Should natural gas, NGL or oil prices decline from current levels and remain there for an extended period of time, we may choose to shut-in our operated wells, (similar to our shut-in of our operated wells in 2020 in response to the COVID-19 pandemic), delay some or all of our exploration and development plans for our prospects, or to cease exploration or development activities on certain prospects due to the anticipated unfavorable economics from such activities, and, as a result, we may have to make substantial downward adjustments to our estimated proved reserves, each of which would have a material adverse effect on our business, financial condition and results of operations.

We have in the past incurred impairments and future conditions might require us to incur additional impairments or make write-downs in our assets, which would adversely