Company: PED
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001654954-25-003703
Chunk: 1381

Company: PEDEVCO CORP
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 1381
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  4,260 Purchases in place  6,281   - Extensions, discoveries and other additions  -   - Sales in place  (154)  (323)Production  (506)  (431)Net proved reserves at end of year  23,416   19,885          NGL (MBbbls)         Net proved reserves at beginning of year  2,374   1,796 Revisions of previous estimates  225   630 Purchases in place  929   - Extensions, discoveries and other additions  -   - Sales in place  (62)  - Production  (19)  (52)Net proved reserves at end of year  3,447   2,374          Oil Equivalents (MBoe)         Net proved reserves at beginning of year  17,046   16,137 Revisions of previous estimates  (2,762)  1,846 Purchases in place  4,542   - Extensions, discoveries and other additions  -   - Sales in place  (142)  (438)Production  (542)  (499)Net proved reserves at end of year  18,142   17,046 

 111Table of Contents

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:

  2024  2023 Proved Developed Reserves       Crude Oil