Company: PED
Filing Date: 2025-10-31
Form Type: 10-K/A
Source: 0001654954-25-012381
Chunk: 169

Company: PEDEVCO CORP
Filing Date: 2025-10-31
Form: 10-K/A
Chunk 169
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ian Basin Asset (1,457 MBoe) that were moved outside of the five-year development plan, and (ii) downward revision of 148 MBoe due to reduced well performance compared to previous estimates.

Revisions due to prices:Downward revision of 39 MBoe due to change in price from YE2023 to December 31, 2024 (YE2024).

Purchases in place: Includes 1,012 MBoe of purchases of working interest and mineral interest across several units in DJ-Basin.

Extensions, discoveries and other additions: Includes extensions of 3,796 MBoe related to the development of operated and non-operated sections in the D-J Basin (3,256 MBoe) and operated sections in Permian Basin (540 MBoe).

Sales in Place: Includes 99 MBoe of sale of interests in certain non-operated wellbores in DJ-Basin.

Production: Includes 585 MBoe of production from our NM and DJ-Basin assets.

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RESERVES

During the year ended December 31, 2024, the Company’s reserves increased by 1.1 MMBoe of proved reserves. Included in the increase, the Company had a 0.95 MMBoe increase in proved undeveloped reserves (noted below) resulting primarily from the addition of volumes in the D-J Basin due to increased activity. The Company also had an increase of 1.2 MMBoe in proved developed producing reserves related to acquisition of properties in the D-J Basin and reclassification of wells from proved developed non-producing at the end of 2023 to proved developed producing for 2024, which offset the natural decline in existing production base in the D-J Basin Asset and Permian Basin.

The following table sets forth the Company’s proved developed and undeveloped reserves at December 31, 2024 and 2023, respectively:

| Proved Developed Producing Reserves     |     | 2024 |        |     | 2023 |        |     | 2022 |        |
| Crude Oil (MBbls)                       |     |      |  2,443 |     |      |  1,869 |     |      |  2,147 |
| Natural Gas (Mmcf)                      |     |      |  4,292 |     |      |  2,998 |     |      |  3,150 |