PEDEVCO Reports Second Quarter 2026 Results
Rhea-AI Summary
PEDEVCO (NYSE American: PED) reported Q2 2026 oil and gas revenue of $46.1 million, up 561% year over year, driven mainly by a 348% production increase to 618,912 Boe (6,801 Boe/d) and higher realized oil prices. Net income was $17.5 million, or $1.31 per share, versus a $1.7 million loss a year earlier, aided by $5.0 million net income on derivative contracts. Adjusted EBITDA rose to $18.7 million, up 516%.
The company reduced borrowings under its revolving credit facility from $98.0 million to $85.0 million during the quarter, cutting its working capital deficit to $8.6 million at June 30, 2026. Cash and restricted cash totaled $12.1 million, with net debt of approximately $73 million and $40 million of additional credit availability. PEDEVCO advanced development across its D-J, Powder River, and Permian Basin assets and plans to drill or participate in over 20 gross wells in the coming months.
Positive
- Revenue +561% YoY to $46.1 million in Q2 2026
- Net income $17.5 million vs. $1.7 million loss in Q2 2025
- Adjusted EBITDA $18.7 million, up 516% year over year
- Production +348% YoY to 618,912 Boe (6,801 Boe/d)
- Credit facility borrowings cut to $85 million from $98 million QoQ
- Working capital deficit reduced to $8.6 million from $34.1 million
- Additional $40 million availability under amended revolving credit agreement
Negative
- Production down 16% QoQ vs. Q1 2026
- Lease operating costs up to $16.4 million from $2.8 million YoY
- G&A expenses up 101% YoY to $3.4 million
- DD&A expense rose to $10.2 million from $3.9 million YoY
- Interest expense $2.0 million vs. none in prior-year quarter
- Impairment charges of $0.8 million in Q2 2026
- Net debt approximately $73 million at June 30, 2026
News Explained
PEDEVCO reported unaudited second-quarter results, and its
Market reaction after 2Q26 earnings report: PED +5.43%
Following this news, PED has gained 5.43%, reflecting a notable positive market reaction. Our momentum scanner has triggered 11 alerts so far, indicating notable trading interest and price volatility. The stock is currently trading at $12.70.
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Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 14 | First-quarter results | Positive | +4.3% | Higher production, revenue, and EBITDA followed the Juniper merger. |
| Nov 17 | Third-quarter results | Negative | -2.5% | Revenue, EBITDA, and production declined before the Juniper merger closed. |
| Aug 14 | Second-quarter results | Negative | -3.4% | Revenue and production declined alongside a quarterly net loss. |
| May 15 | First-quarter results | Neutral | -8.6% | Revenue and production increased, but operating income and net income declined. |
| Mar 31 | Full-year results | Positive | -0.5% | Revenue, EBITDA, production, and net income increased year over year. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-specific earnings events had a -2.13% average move across five events, with stronger results not consistently producing positive reactions.
Key Terms
adjusted ebitda financial
non-gaap financial measure financial
boe/d technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Revenue and Net Income Increase QoQ and YoY
Adjusted EBITDA of
Enhanced Development Plan Expected to Drive Future Growth
HOUSTON, Aug. 13, 2026 (GLOBE NEWSWIRE) -- PEDEVCO Corp. (NYSE American: PED) (“PEDEVCO” or the “Company”), a publicly traded energy company engaged in the acquisition and development of strategic oil and gas assets in the Rocky Mountain region, today reported unaudited financial results for the second quarter ended June 30, 2026.
Financial & Operational Highlights
| ( | Q2 2026 | Q2 2025 | Q1 2026 | Change YoY | Change QoQ |
| Average Daily Production (Boe/d) | 6,801 | 1,517 | 8,091 | + | (16)% |
| Revenue | + | + | |||
| Net Income (Loss) | NM(2) | NM(2) | |||
| Adjusted EBITDA(1) | + | + |
(1) Adjusted EBITDA is a non-GAAP financial measure. See “Use of Non-GAAP Financial Information” and the reconciliation table at the end of this release. Note that the Company’s prior earnings release for the quarter ended March 31, 2026 excluded realized losses on derivative contracts from its calculation of Adjusted EBITDA. Commencing with the quarter ended June 30, 2026, the Company includes such realized losses in its calculation of Adjusted EBITDA, and the first quarter 2026 amount presented above has been recast on that same basis for comparative purposes. Adjusted EBITDA for the quarter ended March 31, 2026 was
(2) “NM” means “Not Meaningful.”
- Second quarter 2026 production increased
348% to 618,912 Boe (average 6,801 Boe/d), compared to 138,028 Boe (1,517 Boe/d) in the second quarter of 2025, reflecting the contribution from the asset base acquired in the Q4 2025 merger along with production added from the 2025 development plan. - Oil and gas revenue increased
561% to$46.1 million , compared to$7.0 million in the prior year period, driven by significantly higher production volumes and a higher average realized oil price. - Second quarter 2026 net income of
$17.5 million or$1.31 per common share, compared to a net loss of$1.7 million or$(0.37) per share in the second quarter of 2025, reflecting higher operating income from the expanded asset base and$5.0 million of net income on derivative contracts. - Adjusted EBITDA increased
516% to$18.7 million , compared to$3.0 million in the second quarter of 2025, reflecting higher production volumes from the expanded asset base and a higher average realized oil price. - Development program commenced with recent completion of a previously-drilled well in the DJ Basin. Further development of the Company’s extensive drilling inventory is expected to generate significant future production and cash flow growth, while maintaining focus on low leverage and balance sheet strength.
Management Commentary
J. Douglas Schick, President and Chief Executive Officer of PEDEVCO, commented:
“Our second quarter results demonstrate the earnings power of the platform we’ve assembled. Oil prices were constructive in the quarter, but the durable story is scale — a larger, more diversified asset base with materially greater cash-generating capacity, now translating into financial performance and balance sheet strength ahead of our original expectations. We reduced borrowings under our credit facility from
"Over the past several months, we have conducted extensive analysis on our hundreds of thousands of acres, and we are now putting that capacity to work. We have recently completed a previously-drilled well in the DJ Basin, and over the next several months, we plan to drill or participate in over 20 gross wells across our asset base. We expect this program to add a material amount of production in late 2026 continuing into 2027. This is a disciplined program built to grow production and cash flow while preserving a strong balance sheet and creating long-term value for our shareholders."
(3) Net debt is a non-GAAP measure representing total debt outstanding under the Company’s Senior Secured Revolving Credit Facility (
Second Quarter Financial Summary
Revenue. Total crude oil, natural gas and NGL revenues for the three-month period ended June 30, 2026 increased
Lease Operating Expenses. Lease operating costs were
General and Administrative Expenses. Total G&A expenses (including share-based compensation) increased
Depreciation, Depletion, Amortization and Accretion. DD&A increased by
Net Income (Loss) on Derivative Contracts. The Company recognized net income of
Interest Expense. The Company incurred
Net Income (Loss). The Company reported net income of
Adjusted EBITDA. Adjusted EBITDA was
Production and Realized Price Summary
| Quarter Ended | Quarter Ended | % Change | |
| 06/30/2026 | 06/30/2025 | ||
| Production Volumes: | |||
| Crude Oil (Bbls) | 450,607 | 100,249 | |
| Natural Gas (Mcf) | 512,805 | 119,493 | |
| NGL (Bbls) | 82,838 | 17,863 | |
| Total (Boe) | 618,912 | 138,028 | 348% |
| Average Daily (Boe/d) | 6,801 | 1,517 | 348% |
| Average Realized Prices: | |||
| Crude Oil ($/Bbl) | |||
| Natural Gas ($/Mcf) | ( | ||
| NGL ($/Bbl) |
Operational Update
Second quarter 2026 production of 618,912 Boe, or 6,801 Boe/d, was in line with the Company’s internal plan. On a sequential basis, production declined as expected (
D-J Basin. The Company holds approximately 88,605 net acres and holds interests in 74 gross (66.9 net) operated wells and 110 gross (12.5 net) non-operated wells in the D-J Basin. During the second quarter, the Company continued to advance its field optimization program and completed its planned first-half participation in 10 non-operated wells with working interests ranging from
Powder River Basin (“PRB”). The Company holds approximately 202,100 net acres and holds interests in 156 gross (135.4 net) wells in the PRB, of which 16 gross (1.4 net) are non-operated. During the quarter, certain permitting-related matters affecting Wyoming acreage were resolved, improving the Company’s ability to advance portions of the asset toward development. Production in the area is stable and provides a strong base for growth from development of our properties in 2026 and beyond.
Permian Basin. The Company holds approximately 14,505 net acres and holds interests in 38 gross (34.5 net) wells in the Permian Basin, all of which the Company operates. The asset continued to provide a stable production base during the second quarter. The Company remained focused on operating efficiency and continued to evaluate lift conversions, well interventions and other optimization opportunities designed to reduce operating costs and improve margins.
Liquidity and Capital Structure
As of June 30, 2026, the Company had cash of
Earnings Conference Call
PEDEVCO management will host a conference call today, Thursday, August 13, 2026, at 5:00 p.m. Eastern time to discuss its financial results for the second quarter ended June 30, 2026, followed by a question-and-answer period.
Date: Thursday, August 13, 2026
Time: 5:00 p.m. Eastern time
Dial-in registration link: here
Webcast registration link: here
The conference call will also be available for replay in the Events section of the Company’s website, along with the transcript, at https://www.pedevco.com/investors.
About PEDEVCO Corp.
PEDEVCO Corp. (NYSE American: PED) is a publicly traded energy company engaged in the acquisition and development of strategic oil and gas assets in the Rocky Mountain region. The Company’s principal assets include its D-J Basin assets in southeastern Wyoming and northern Colorado, its Powder River Basin assets in northeastern Wyoming, and its Permian Basin assets in eastern New Mexico, collectively representing over 300,000 net acres. PEDEVCO is headquartered in Houston, Texas. More information about PEDEVCO can be found at www.pedevco.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions, are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results to differ materially from those expressed or implied. Forward-looking statements in this release include, but are not limited to, statements regarding the Company’s second-half 2026 development program, including planned capital investment, well count and the timing and expected contribution of first production, expected benefits of the Juniper Merger including cost savings and operational synergies, expected operational efficiencies and cost reductions, expected production levels, including expected third-quarter production cadence and the expected contribution of the Hastings well, development plans, permitting and other regulatory matters affecting the Company’s acreage, estimated reserves, and the Company’s ability to fund its operations and service its obligations. Factors that could cause actual results to differ include, among others: volatility in oil and natural gas prices; the Company’s ability to successfully integrate the acquired operations; the Company’s ability to service its credit facility obligations; results of development and production activities; changes in operating costs; regulatory developments including those affecting federal and state leases; availability and costs of services and materials; and the risks described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, its Quarterly Reports on Form 10-Q, and other filings with the SEC. The Company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date of this release.
Use of Non-GAAP Financial Information
This press release includes EBITDA and Adjusted EBITDA, which are presented as supplemental measures of the Company’s performance. These are not recognized in accordance with generally accepted accounting principles (“GAAP”) and should not be viewed as an alternative to GAAP measures of performance.
EBITDA represents net income before interest, taxes, depreciation and amortization. Adjusted EBITDA represents EBITDA adjusted to exclude share-based compensation, impairment of oil and gas properties, unrealized (gain) loss on derivative contracts, gain on sale of oil and gas properties, merger acquisition costs, and note receivable – credit loss. The Company believes these measures provide additional useful information to investors and are frequently used by analysts, investors and other interested parties to evaluate companies in the oil and gas industry. Management uses Adjusted EBITDA to evaluate the Company’s operating performance and cash-generating capacity across periods on a consistent basis, to assist in capital allocation decisions and to facilitate comparisons with other companies in the oil and gas industry, some of which calculate similarly titled measures differently. However, EBITDA and Adjusted EBITDA have limitations and should not be considered in isolation or as substitutes for analysis of results as reported under GAAP. Additionally, the Company’s calculation of these measures may differ from similarly titled measures used by other companies. A reconciliation of net (loss) income to Adjusted EBITDA is provided at the end of this release. The most directly comparable GAAP measure is net (loss) income, which is presented with equal or greater prominence in this release.
| PEDEVCO CORP. CONSOLIDATED BALANCE SHEETS (amounts in thousands, except share and per share data) | ||||||||
| June 30, 2026 | December 31, | |||||||
| (Unaudited) | 2025 | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash | $ | 10,805 | $ | 3,222 | ||||
| Restricted cash | 1,337 | - | ||||||
| Accounts receivable – oil and gas | 24,010 | 25,666 | ||||||
| Inventory | 141 | 61 | ||||||
| Derivative contract assets, current | 3,347 | 8,368 | ||||||
| Prepaid expenses and other current assets | 180 | 434 | ||||||
| Total current assets | 39,820 | 37,751 | ||||||
| Oil and gas properties: | ||||||||
| Oil and gas properties, subject to amortization, net | 295,675 | 303,411 | ||||||
| Oil and gas properties, not subject to amortization, net | 16,623 | 18,859 | ||||||
| Total oil and gas properties, net | 312,298 | 322,270 | ||||||
| Derivative contract assets | 5,316 | 9,640 | ||||||
| Operating lease – right-of-use asset | 124 | 213 | ||||||
| Deferred income taxes | - | - | ||||||
| Other assets | 2,141 | 5,995 | ||||||
| Total assets | $ | 359,699 | $ | 375,869 | ||||
| Liabilities and Shareholders’ Equity | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 6,548 | $ | 32,436 | ||||
| Accrued expenses | 13,408 | 8,245 | ||||||
| Revenue payable | 22,231 | 21,480 | ||||||
| Income tax payable | - | - | ||||||
| Operating lease liabilities – current | 125 | 182 | ||||||
| Derivative contract liabilities – current | 5,687 | 964 | ||||||
| Deposit on sale of oil and gas properties | 2,000 | - | ||||||
| Asset retirement obligations – current | 743 | 1,170 | ||||||
| Total current liabilities | 50,742 | 64,477 | ||||||
| Long-term liabilities: | ||||||||
| Revolving credit facility | 85,000 | 87,000 | ||||||
| Operating lease liabilities, net of current portion | - | 32 | ||||||
| Derivative contract liabilities | 7,067 | 6,358 | ||||||
| Asset retirement obligations, net of current portion | 13,688 | 7,641 | ||||||
| Deferred income taxes | 921 | 800 | ||||||
| Other long-term liabilities | 2,230 | 2,197 | ||||||
| Total liabilities | 159,648 | 168,505 | ||||||
| Commitments and contingencies (Note 12) | ||||||||
| Shareholders’ equity: | ||||||||
| Series A preferred stock, | - | 17,014 | ||||||
| Common stock, | 13 | 5 | ||||||
| Additional paid-in capital | 330,071 | 312,205 | ||||||
| Accumulated deficit | (130,033 | ) | (121,860 | ) | ||||
| Total shareholders’ equity | 200,051 | 207,364 | ||||||
| Total liabilities and shareholders’ equity | $ | 359,699 | $ | 375,869 | ||||
| PEDEVCO CORP. CONSOLIDATED STATEMENTS OF OPERATIONS (amounts in thousands, except per share data) | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Revenue: | ||||||||||||||||
| Oil and gas sales | $ | 46,113 | $ | 6,972 | $ | 86,335 | $ | 15,708 | ||||||||
| Operating expenses: | ||||||||||||||||
| Lease operating costs | 16,406 | 2,799 | 32,763 | 6,211 | ||||||||||||
| Exploration expense | 24 | - | 24 | - | ||||||||||||
| Selling, general and administrative expense | 3,408 | 1,693 | 6,515 | 3,289 | ||||||||||||
| Depreciation, depletion, amortization and accretion | 10,152 | 3,857 | 22,602 | 7,203 | ||||||||||||
| Impairment of oil and gas properties | 817 | 510 | 2,422 | 742 | ||||||||||||
| Total operating expenses | 30,807 | 8,859 | 64,326 | 17,445 | ||||||||||||
| Gain on sale of oil and gas properties | 52 | 1,021 | 52 | 1,021 | ||||||||||||
| Note receivable - credit loss | - | (1,378 | ) | - | (1,378 | ) | ||||||||||
| Operating income (loss) | 15,358 | (2,244 | ) | 22,061 | (2,094 | ) | ||||||||||
| Other income (expense): | ||||||||||||||||
| Interest expense | (1,973 | ) | - | (3,968 | ) | - | ||||||||||
| Interest income | 76 | 63 | 134 | 127 | ||||||||||||
| Net income (loss) on derivative contracts | 5,014 | - | (26,252 | ) | - | |||||||||||
| Other income (expense) | 6 | 15 | 11 | 17 | ||||||||||||
| Total other (expense) income | 3,123 | 78 | (30,075 | ) | 144 | |||||||||||
| Income (loss) before income taxes | 18,481 | (2,166 | ) | (8,014 | ) | (1,950 | ) | |||||||||
| Income tax benefit (expense) | (1,027 | ) | 490 | (159 | ) | 414 | ||||||||||
| Net income (loss) | $ | 17,454 | $ | (1,676 | ) | $ | (8,173 | ) | $ | (1,536 | ) | |||||
| Earnings (loss) per common share: | ||||||||||||||||
| Basic | $ | 1.31 | $ | (0.37 | ) | $ | (0.77 | ) | $ | (0.34 | ) | |||||
| Diluted | $ | 1.31 | $ | (0.37 | ) | $ | (0.77 | ) | $ | (0.34 | ) | |||||
| Weighted average number of common shares outstanding: | ||||||||||||||||
| Basic | 13,300,231 | 4,570,178 | 10,620,121 | 4,556,866 | ||||||||||||
| Diluted | 13,300,231 | 4,570,178 | 10,620,121 | 4,556,866 | ||||||||||||
| PEDEVCO CORP. CONSOLIDATED STATEMENTS OF CASH FLOWS (amounts in thousands) | ||||||||
| Six Months Ended June 30, | ||||||||
| 2026 | 2025 | |||||||
| Cash Flows From Operating Activities: | ||||||||
| Net income (loss) | $ | (8,173 | ) | $ | (1,536 | ) | ||
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||
| Depreciation, depletion, amortization and accretion | 22,602 | 7,203 | ||||||
| Impairment of oil and gas properties | 2,422 | 742 | ||||||
| Note receivable – credit loss | - | 1,378 | ||||||
| Amortization of right-of-use asset | 89 | 75 | ||||||
| Amortization of deferred financing costs | 336 | - | ||||||
| Share-based compensation expense | 904 | 949 | ||||||
| Net loss on derivative contracts | 26,252 | - | ||||||
| Cash received (paid) for derivative settlements, net | (7,778 | ) | - | |||||
| Deferred income taxes | 121 | (414 | ) | |||||
| Gain on sale of oil and gas properties, net | (52 | ) | (1,021 | ) | ||||
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable – oil and gas | 1,656 | (672 | ) | |||||
| Note receivable accrued interest | - | (41 | ) | |||||
| Inventory | (80 | ) | - | |||||
| Prepaid expenses and other current assets | 653 | 349 | ||||||
| Accounts payable | (20,522 | ) | (2,224 | ) | ||||
| Accrued expenses | 6,626 | (481 | ) | |||||
| Revenue payable | 751 | 1,201 | ||||||
| Income tax payable | 37 | - | ||||||
| Other liabilities | 29 | - | ||||||
| Net cash provided by operating activities | 25,873 | 5,508 | ||||||
| Cash Flows From Investing Activities: | ||||||||
| Cash paid for drilling and completion costs | (20,008 | ) | (3,675 | ) | ||||
| Cash received for sale of oil and gas property | 2,000 | 2,635 | ||||||
| Net cash (used in) provided by investing activities | (18,008 | ) | (1,040 | ) | ||||
| Cash Flows From Financing Activities: | ||||||||
| Proceeds from credit facility | 11,000 | - | ||||||
| Repayment of credit facility | (13,000 | ) | - | |||||
| Reverse stock split costs | (44 | ) | - | |||||
| Proceeds from issuance of shares, net of offering costs | - | 139 | ||||||
| Net cash (used in) provided by financing activities | (2,044 | ) | 139 | |||||
| Net increase in cash and restricted cash | 5,821 | 4,607 | ||||||
| Cash and restricted cash at beginning of period | 6,321 | 6,607 | ||||||
| Cash and restricted cash at end of period | $ | 12,142 | $ | 11,214 | ||||
| Supplemental Disclosure of Cash Flow Information | ||||||||
| Cash paid for: | ||||||||
| Interest | $ | 2,891 | $ | - | ||||
| Income taxes | $ | - | $ | - | ||||
| Noncash investing and financing activities: | ||||||||
| Change in accrued oil and gas development costs | $ | (10,825 | ) | $ | (4,780 | ) | ||
| Changes in estimates of asset retirement costs, net | $ | 4,660 | $ | 119 | ||||
| Conversion of preferred stock into common stock | $ | 17,014 | $ | - | ||||
| Issuance of restricted common stock | $ | - | $ | 3 | ||||
| PEDEVCO CORP. RECONCILIATION OF NET (LOSS) INCOME TO ADJUSTED EBITDA (amounts in thousands) | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Net income (loss) | $ | 17,454 | $ | (1,676 | ) | $ | (8,173 | ) | $ | (1,536 | ) | ||||
| Add (deduct) | |||||||||||||||
| Interest expense | 1,973 | - | 3,968 | - | |||||||||||
| Income tax benefit (expense) | 1,027 | (490 | ) | 159 | (414 | ) | |||||||||
| Depreciation, depletion, amortization and accretion | 10,152 | 3,857 | 22,602 | 7,203 | |||||||||||
| EBITDA | 30,606 | 1,691 | 18,556 | 5,253 | |||||||||||
| Add (deduct) | |||||||||||||||
| Share-based compensation (non-cash) | 412 | 474 | 904 | 949 | |||||||||||
| Merger acquisition costs | - | - | 200 | - | |||||||||||
| Impairment of oil and gas properties | 817 | 510 | 2,422 | 742 | |||||||||||
| Unrealized (gain) loss on derivative contracts | (13,114 | ) | - | 14,777 | - | ||||||||||
| Gain on sale of oil and gas properties | (52 | ) | (1,021 | ) | (52 | ) | (1,021 | ) | |||||||
| Note receivable - credit loss | - | 1,378 | - | 1,378 | |||||||||||
| Adjusted EBITDA | $ | 18,669 | $ | 3,032 | $ | 36,807 | $ | 7,301 | |||||||
| PEDEVCO CORP. RECONCILIATION OF WORKING CAPITAL (DEFICIT) TO WORKING CAPITAL (DEFICIT) EXCLUDING DERIVATIVE CONTRACT ASSETS AND LIABILITIES (amounts in thousands) | ||||||||
| June 30, 2026 | December 31, 2025 | |||||||
| (Unaudited) | ||||||||
| Total current assets | $ | 39,820 | $ | 37,751 | ||||
| Less: Total current liabilities | (50,742 | ) | (64,477 | ) | ||||
| Working capital (deficit) (GAAP) | (10,922 | ) | (26,726 | ) | ||||
| Adjustments: | ||||||||
| Less: Derivative contract assets, current | (3,347 | ) | (8,368 | ) | ||||
| Add: Derivative contract liabilities, current | 5,687 | 964 | ||||||
| Working capital (deficit) excluding derivative contract assets and liabilities | $ | (8,582 | ) | $ | (34,130 | ) | ||
| PEDEVCO CORP. SCHEDULE OF OPEN DERIVATIVE CONTRACTS As of June 30, 2026 (All contracts novated from the Juniper Merger effective November 1, 2025, and new hedges subsequently entered into by the Company; volumes in Boe or Mcf as noted; amounts in thousands) | |||||||||||
| Crude Oil - 3 Way Collars | |||||||||||
| Producer Three-Way Collars (Summary of 3 separate contracts) | Participating Three-Way Collars (Summary of 3 separate contracts) | ||||||||||
| Date | Volume (Boe) | Put Sold ($/Boe) | Put Bought ($/Boe) | Call Sold ($/Boe) | Volume (Boe) | Put Bought ($/Boe) | Call Sold ($/Boe) | Call Bought ($/Boe) | |||
| 3Q 2026 | 31,800 | 24,400 | |||||||||
| 4Q 2026 | 29,700 | 66,900 | |||||||||
| FY 2026 | 61,500 | 91,300 | |||||||||
| 1Q 2027 | 27,400 | 127,700 | |||||||||
| 2Q 2027 | 26,200 | 163,700 | |||||||||
| 3Q 2027 | 25,200 | 163,300 | |||||||||
| 4Q 2027 | 24,200 | 129,800 | |||||||||
| FY 2027 | 103,000 | 584,500 | |||||||||
| 1Q 2028 | - | - | - | - | 114,100 | ||||||
| 2Q 2028 | - | - | - | - | 128,000 | ||||||
| 3Q 2028 | - | - | - | - | 123,000 | ||||||
| 4Q 2028 | - | - | - | - | 39,100 | ||||||
| FY 2028 | - | - | - | - | 404,200 | ||||||
| Crude Oil - Swaps and Costless Collars | |||||
| Swaps | Costless Collars | ||||
| Date | Volume (Boe) | Avg. Price ($/Boe) | Volume (Boe) | Floor Price ($/Boe) | Ceiling Price ($/Boe) |
| 3Q 2026 | 180,000 | 71,170 | |||
| 4Q 2026 | 105,000 | 77,083 | |||
| FY 2026 | 285,000 | 148,253 | |||
| 1Q 2027 | 30,000 | 54,900 | |||
| 2Q 2027 | 30,000 | 9,900 | |||
| 3Q 2027 | 30,000 | 1,700 | |||
| 4Q 2027 | 30,000 | 1,800 | |||
| FY 2027 | 120,000 | 68,300 | |||
| 1Q 2028 | - | - | - | - | - |
| 2Q 2028 | - | - | - | - | - |
| 3Q 2028 | - | - | - | - | - |
| 4Q 2028 | - | - | - | - | - |
| FY 2028 | - | - | - | - | - |
| Natural Gas | |||||
| Swaps | Costless Collars | ||||
| Date | Volume (Mcf) | Avg. Price ($/mcf) | Volume (Mcf) | Floor Price ($/mcf) | Ceiling Price ($/mcf) |
| 3Q 2026 | 247,500 | 17,200 | |||
| 4Q 2026 | 234,100 | 18,700 | |||
| FY 2026 | 481,600 | 35,900 | |||
| 1Q 2027 | - | - | 237,000 | ||
| 2Q 2027 | 209,000 | 16,900 | |||
| 3Q 2027 | 201,900 | 16,900 | |||
| 4Q 2027 | 151,200 | 11,500 | |||
| FY 2027 | 562,100 | 282,300 | |||
| 1Q 2028 | - | - | 122,700 | ||
| 2Q 2028 | 118,100 | - | - | - | |
| 3Q 2028 | 115,100 | - | - | - | |
| 4Q 2028 | 37,900 | - | - | - | |
| FY 2028 | 271,100 | 122,700 | |||
The Company has not designated any derivative instruments as accounting hedges. Changes in fair value and cash settlements are recognized in earnings under “Net income (loss) on derivative contracts” in the Consolidated Statements of Operations. For the three months ended June 30, 2026, the Company recognized net income on derivative contracts of
CONTACTS:
Media Contact:
PEDEVCO Corp.
(713) 221-1768
PR@pedevco.com
Investor Relations Contact:
Sean Mansouri, CFA or Laurent Weil
Elevate IR
(720) 330-2829
PED@elevate-ir.com
Source: PEDEVCO Corp.
