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. operates as a publicly traded energy company focused on acquiring and developing oil and natural gas assets in the Rocky Mountain region. Company news commonly covers operating and financial results, production and reserve updates, investor presentations, and the integration of acquired oil and gas properties into its Rockies-focused platform.
Recurring developments also include material agreements, credit and capital-structure matters, shareholder voting items, governance actions, and risk disclosures tied to exploration, development, production, commodity prices, financing, and NYSE American listing requirements.
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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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PEDEVCO Corp. (NYSE American: PED) reported a transformational 2022, achieving revenue of $30 million, a remarkable 89% increase from 2021. The company produced an average of 1,000 BOEPD, with an operating income of $2.6 million and net income of $2.8 million, or $0.03 per share. Adjusted EBITDA rose 157% to $16.1 million. Despite a 40% rise in operating expenses to $27.4 million, cash reserves grew to $32.98 million with zero debt. Looking ahead, PEDEVCO anticipates significant production growth from new wells in the D-J Basin and plans further drilling activities in 2023.
PEDEVCO Corp. (NYSE American: PED) announced its participation in the 35th Annual Roth Conference from March 12-14, 2023 in Laguna Niguel, California. President J. Douglas Schick will hold one-on-one investor meetings during the event. An updated investor deck will be available on the company's website from March 6, 2023, with the possibility of discontinuation at any time. PEDEVCO engages in strategic energy project acquisition and development, focusing on its key assets in the Permian Basin and D-J Basin. For more information, visit www.pedevco.com.
PEDEVCO Corp. (PED) reported a significant financial turnaround for Q3 2022, achieving a net income of $1.1 million or $0.01 per share, versus a net loss of $0.3 million in Q3 2021. Revenues soared by 84% year-over-year to $7.47 million, largely attributable to increased production averaging 960 BOEPD (87% oil). Adjusted EBITDA doubled to $3.87 million. Operating expenses rose 46% to $6.45 million, driven by non-recurring costs. The company boasts a cash reserve of $30.9 million with zero debt, and anticipates further production growth from upcoming well completions.
PEDEVCO Corp. (NYSE: PED) announced strong financial results for Q2 2022, reporting a revenue surge of 155%, reaching $9.55 million. The company averaged 1,085 BOEPD, with net income hitting $3.21 million, or $0.04 per share, a significant turnaround from a net loss of $0.225 million in Q2 2021. Adjusted EBITDA also rose 281%, totaling $6 million. Despite a 44% increase in operating expenses to $6.3 million, PEDEVCO's cash position remains solid at $26.36 million, with zero debt. The company continues to pursue growth opportunities in the Permian and D-J Basins.