Company: PED
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001654954-25-013092
Chunk: 159

Company: PEDEVCO CORP
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 159
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 Ended September 30, 2025, vs. Three Months Ended September 30, 2024

We reported a net loss for the three-month period ended September 30, 2025, of $0.3 million, or ($0.00) per common share, compared to net income for the three-month period ended September 30, 2024 of $2.9 million or $0.03 per share. The decrease in net income of $3.2 million, when comparing the current period to the prior year’s period, was primarily due to a $0.8 million increase in total operating expense (which includes an impairment of oil and gas properties of $0.2 million), coupled with a decrease of revenues of $2.1 million and a $0.7 million gain in sale of oil and gas properties in the prior period offset with $0.2 million increased in other income (each discussed in more detail below) and an income tax benefit of $0.2 million (see Note 13 – Income Taxes, in the notes to the consolidated financial statements above under “Part I – Financial Information—Item 1. Financial Statements”).

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Net Revenues

The following table sets forth the operating results and production data for the periods indicated:

   Three Months Ended         September 30,   Increase   % Increase   2025  2024  (Decrease)  (Decrease) Sale Volumes:            Crude Oil (Bbls)  96,864   108,810   (11,946) (11%) Natural Gas (Mcf)  128,369   142,669   (14,300) (10%) NGL (Bbls)  17,007   23,508   (6,501) (28%) Total (Boe) (1)  135,266   156,096   (20,830) (13%)                 Crude Oil (Bbls per day)  1,053   1,183   (130) (11%) Natural Gas (Mcf per day)  1,395   1,551   (156) (10%) NGL (Bbls per day)  185   256   (71) (28