Company: PED
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001654954-25-009652
Chunk: 124

Company: PEDEVCO CORP
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 124
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 of 17 operated wells in the D-J Basin in April 2025, and natural declines from both our third-party D-J Basin wells and our Permian Basin wells along with our drilling partner, which were completed last period and initially produced at much higher rates.

 21Table of Contents

Operating Expenses and Other Income

The following table summarizes our production costs and operating expenses for the periods indicated (in thousands): 

  Three Months Ended          June 30,   Increase  % Increase   2025  2024   (Decrease)   (Decrease) Direct Lease Operating Expenses  $1,256  $1,731  $(475) (27%) Workovers   469   335   134  40% Other*  1,074   1,482   (408) (28%) Total Lease Operating Expenses $2,799  $3,548  $(749) (21%)                 Depreciation, Depletion,                 Amortization and Accretion  $3,857  $4,242  $(385) (9%) Impairment of Oil and Gas Properties $510  $-  $510  100%                 General and Administrative (Cash) $1,218  $921  $297  32% Share-Based Compensation (Non-Cash)  475   462   13  3% Total General and Administrative Expense  $1,693  $1,383  $310  22%                 Gain on Sale of Oil and Gas Properties $1,021  $-  $1,021  100% Note Receivable - Credit Loss $1,378  $-  $1,378  100% Interest Income $63  $93  $(30) (32%) Other Income (Expense) $15  $(50) $65  130% 

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

Lease Operating Expenses. The decrease of $0.7 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