Welcome to our dedicated page for Pedevco news (Ticker: PED), a resource for investors and traders seeking the latest updates and insights on Pedevco stock.
PEDEVCO Corp (NYSE: PED) is an energy company focused on strategic oil and gas development in proven U.S. basins. This page provides investors with comprehensive access to official press releases, operational updates, and financial announcements.
Track the company's progress in enhancing legacy assets through modern drilling technologies across its Permian Basin (San Andres formation) and D-J Basin operations. Stay informed about acquisition strategies, partnership developments, and production optimization efforts that drive PEDEVCO's disciplined growth approach.
Key updates include earnings reports, asset acquisitions, technological implementations, and regulatory filings. All content is sourced directly from company communications to ensure accuracy and timeliness.
Bookmark this page for centralized access to PEDEVCO's latest developments in energy project management and operational efficiency improvements across its core producing regions.
PEDEVCO Corp. (NYSE American: PED) has announced its financial results for Q1 2024, ending March 31. The company produced an average of 1,478 BOEPD, an increase from Q1 2023's 1,428 BOEPD. Revenue slightly decreased to $8.12 million, while operating income dropped to $0.6 million, a 62% decline. Net income was $0.8 million, or $0.01 per share, down from $1.8 million, or $0.02 per share, in Q1 2023.
Operating expenses increased by 15%, totaling $7.5 million. Adjusted EBITDA fell to $4.72 million. The company had $15.5 million in cash and no debt. PEDEVCO participated in the production of 13 non-operated wells and drilled three horizontal wells in the Permian Basin.
Additionally, PEDEVCO received approval for the Roth 2-11 OGDP in Colorado, covering 2,560 acres. The company is collaborating with Evolution Petroleum for further development in the Permian Basin.
PEDEVCO Corp. (NYSE American: PED) is set to host one-on-one meetings at The Inaugural EF Hutton Global Conference, taking place on May 10-11, 2023, at the Plaza Hotel in New York. J. Douglas Schick, the Company's President, will facilitate these meetings on May 10 from 8:30 a.m. to 3:15 p.m. Eastern Time. Investors can register online until April 28, 2023, to schedule a meeting. The Company has an investor deck available on its website, although it may be removed at any time. PEDEVCO is focused on acquiring and developing high growth energy projects in the U.S., with key assets in the Permian Basin and the D-J Basin. Further information about PEDEVCO is available on their official website.
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