Company: PED
Filing Date: 2025-10-31
Form Type: 10-K/A
Source: 0001654954-25-012381
Chunk: 168

Company: PEDEVCO CORP
Filing Date: 2025-10-31
Form: 10-K/A
Chunk 168
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 (19 | ) |     |                 |    (99 | ) |
| Production                                  |     |             |   (439 | ) |     |            |   (506 | ) |     |             |   (62 | ) |     |                 |   (585 | ) |
| December 31, 2024                           |     |             | 10,793 |   |     |            | 23,416 |   |     |             | 3,447 |   |     |                 | 18,142 |   |

| 116 |

For the year ended December 31, 2023:

Revisions of previous estimates: Includes (i) revisions related to increase in leasehold and minerals and expected performance increase of 1,447 MBoe in the D-J Basin Asset based on offset well results, and a decrease of 3,311 MBoe related to removal of PUD locations in Chaveroo Field of our Permian Basin Asset that were moved outside of the five-year development plan, and (ii) upward revision of 19 MBoe due to improved well performance compared to previous estimates.

Revisions due to prices: Downward revision of 91 MBoe due to change in price from December 31, 2022 (YE2022) to December 31, 2023 (YE2023).

Purchases in place: Includes 189 MBoe of purchases of interest in a unit in DJ Basin.

Extensions, discoveries and other additions: Includes extensions of 3,592 MBoe related to the development of operated and non-operated sections in the D-J Basin (2,968 MBoe) and operated sections in Permian Basin (624 MBoe).

Sales in Place: Includes the 438 MBoe sale of our Milnesand assets in New Mexico (NM) and reduction in working interest in a recently developed unit.

Production: Includes 499 MBoe of production from our NM and DJ-Basin assets.

For the year ended December 31, 2024:

Revisions of previous estimates: Includes (i) revisions of 2,841 Mboe related to an increase in leasehold and minerals and expected performance increase of 586 MBoe in the D-J Basin Asset based on offset well results, and a decrease of 3,427 MBoe related to removal of PUD locations in D-J Basin (1,970 Mboe) and Chaveroo Field of our Perm