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

Company: PEDEVCO CORP
Filing Date: 2025-10-31
Form: 10-K/A
Chunk 25
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 and two are active SWDs.

D-J Basin Asset

We have grown our legacy D-J Basin Asset position to approximately 14,809 net acres in Weld and Morgan Counties, Colorado and approximately 3,860 net acres in Laramie County, Wyoming. We directly hold all of our interests in the D-J Basin Asset through our wholly-owned subsidiary, PRH. These interests are all located in Weld and Morgan Counties, Colorado and Laramie County, Wyoming. PRH has an interest in 82 gross (21.9 net) wells and our wholly-owned operating subsidiary, Red Hawk, is currently the operator of 17 gross (15.4 net) wells located in our D-J Basin Asset. Our D-J Basin Asset acreage is located in the areas shown in the map below. The D-J Basin’s Wattenberg Extension has seen a tremendous amount of growth in drilling activity since 2018 due to enhanced completions design and interest in the area as a result of its remote location away from more populated areas of the Wattenberg play to the south. D-J Basin operators are drilling horizontal wells in the Niobrara formation in several Niobrara benches and in the Codell formation, utilizing the latest advances in completion design, frac stages, and frac intensity to obtain favorable well results. Notable non-operated partners leading the Niobrara revival are Chevron Corporation (which acquired Noble Energy in October 2020 and PDC Energy in August 2023), Civitas Resources, Inc. (formed by the merger of Bonanza Creek Energy and Extraction Oil and Gas in November 2021) and several large private equity-backed independent E&P companies like Bison Oil & Gas IV and Verdad Resources LLC. Other active operators in the area include Fundare Resources Company, LLC (which acquired Whiting Petroleum Company’s D-J Basin interests in late 2019), and Occidental Petroleum (which acquired Anadarko Petroleum in 2019).

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Weld and Morgan Counties, Colorado and Laramie County, Wyoming

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Production, Sales Price and Production Costs

We have listed below the total production volumes and total revenue, net to the Company, for the years ended December 31, 2024, 2023, and 2022:

|                                        |     |   |       2024 |     |   |       2023 |     |   |       2022 |
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