Pedevco Corp (NYSE: PED) saw material scale-up after the Juniper merger, exiting FY25 with production up 35% y/y to 910.1 Mboe, revenue of $45.8M, and adjusted EBITDA of $27.0M.
4Q25 (two months acquired) showed production of 483.2 Mboe, reserves of 32.1 MMBoe, PV-10 of $357.7M, and 1,000+ locations beyond proved reserves.
Merger costs, new interest expense and note write-off
Only two months of acquired contribution included in 4Q25
News Market Reaction – PED
-8.68%
7 alerts
-8.68%News Effect
+3.5%Peak Tracked
-8.1%Trough Tracked
-$22MValuation Impact
$235.15MMarket Cap
0.3xRel. Volume
On the day this news was published, PED declined 8.68%, reflecting a notable negative market reaction.
Argus tracked a peak move of +3.5% during that session.
Argus tracked a trough of -8.1% from its starting point during tracking.
Our momentum scanner triggered 7 alerts that day, indicating moderate trading interest and price volatility.
This price movement removed approximately $22M from the company's valuation, bringing the market cap to $235.15M at that time.
PED fell 1.93% while peers showed mixed moves: PVL -0.53%, MVO +11.11%, EPSN +1.57%, PROP +12.11%, AMPY +0.16%. This points to stock-specific trading rather than a uniform sector move.
Recent news has mostly aligned with price reactions, with only the year-end reserves update showing a negative divergence.
Recent Company History
Over the last few months, PED’s news flow has focused on the transformative Juniper merger, strong Q4/FY25 growth, and capital-structure actions such as the 1-for-20 reverse split. Earnings and reserves updates highlighted revenue of $45.8M, Adjusted EBITDA of $27.0M, and proved reserves of about 32.1 MMBoe. Today’s coverage initiation leans on the same post-merger scale, reinforcing the larger Rockies oil-weighted platform described in recent filings and updates.
Market Pulse Summary
The stock moved -8.7% in the session following this news. A negative reaction despite highlighting s...
Analysis
The stock moved -8.7% in the session following this news. A negative reaction despite highlighting strong growth would fit a pattern where investors focus on the shift to a $(10.4)M net loss and prior dilution events such as the reverse split. The article reiterates metrics already disclosed, including $45.8M FY25 revenue and $27.0M adjusted EBITDA, so some selling could reflect profit-taking or concern about integration and cost trends rather than the new coverage itself.
Key Terms
adjusted EBITDA, proved reserves, PV-10, Boe/d, +2 more
6 terms
adjusted EBITDAfinancial
"revenue rose 16% to $45.8M, and adjusted EBITDA increased 18% to $27.0M"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
proved reservestechnical
"PED now has 32.1 MMBoe of proved reserves, $357.7M PV-10"
Proved reserves are the quantities of oil or natural gas that geological and engineering data show with high confidence can be extracted under current economic and operating conditions. For investors, they act like a verified inventory: larger proved reserves usually support future production, revenue and borrowing capacity, while declines can signal falling asset value or the need for investment to replace supply.
PV-10financial
"PED now has 32.1 MMBoe of proved reserves, $357.7M PV-10"
PV-10 is a valuation metric that estimates the present value of future oil and gas production cash flows, discounted at 10% and stated before income taxes. Think of it as the current price tag on a company’s proven reserves, calculated by shrinking future revenue streams to today’s dollars using a 10% rate. Investors use PV-10 to compare the relative worth of reserves and assess how much future production could contribute to a company’s value, much like comparing the upfront price of different rental properties based on expected future rent.
Boe/dtechnical
"production increased 35% y/y to 910.1 Mboe (2,494 Boe/d)"
A measure of energy production that converts oil and gas output into a single daily figure — barrels of oil equivalent per day — so different fuels can be compared on the same scale. Think of it like converting miles and kilometers into one unit before comparing distances: investors use boe/d to judge how much total hydrocarbon output a company generates, estimate revenue potential, and compare production efficiency across firms or projects.
MMBoetechnical
"PED now has 32.1 MMBoe of proved reserves, $357.7M PV-10"
mmboe stands for million barrels of oil equivalent, a unit that converts different forms of energy (natural gas, condensates and other hydrocarbons) into the energy value of one million barrels of crude oil. Investors use mmboe to compare production, reserves and project size across companies and assets—like using a single currency to add apples and oranges—so it helps gauge potential supply, future revenue and company scale.
LOEfinancial
"$10M-$13M of optimization work could reduce LOE by up to $1M/month"
Loss of exclusivity (LOE) is when a product—most often a prescription drug—loses its legal protections (like a patent or market exclusivity), allowing competitors to offer similar versions. For investors, LOE is important because it usually leads to a sharp drop in sales and profit margins for the original maker, similar to a bakery losing the sole right to sell a popular recipe and facing many cheaper rivals; that change can materially affect a company’s revenue and valuation.
AI-generated analysis. Not financial advice.
Dallas, Texas--(Newsfile Corp. - April 7, 2026) - Pedevco Corp. (NYSE: PED): Stonegate Capital Partners Initiates Coverage on Pedevco Corp. (NYSE: PED). PEDEVCO exited FY25 as a much larger, oil-weighted Rockies platform following the Juniper merger. For FY25, production increased 35% y/y to 910.1 Mboe (2,494 Boe/d), revenue rose 16% to $45.8M, and adjusted EBITDA increased 18% to $27.0M despite a 19% decline in realized crude oil prices. Reported earnings moved to a net loss of $(10.4)M (vs. net income of $12.3M in FY24), driven by merger costs, accelerated share-based compensation, new interest expense, a note write-off, and tax expense. In 4Q25, the first quarter reflecting the combined platform, production increased 143% y/y to 483.2 Mboe (5,310 Boe/d), revenue more than doubled to $23.1M, and adjusted EBITDA nearly tripled to $15.4M. Management emphasized that the quarter included only two months of acquired contribution, making normalized earnings power the better lens, while the merger-close bridge to 6,500+ Boe/d and roughly over 310,000 net acres helps frame the larger earnings base now embedded in the portfolio.
To view the full announcement, including downloadable images, bios, and more, click here.
Key Takeaways:
4Q25 only included two months of acquired assets, yet production rose 143% y/y and adj. EBITDA nearly tripled.
PED now has 32.1 MMBoe of proved reserves, $357.7M PV-10, and 1,000+ locations beyond proved reserves.
$10M-$13M of optimization work could reduce LOE by up to $1M/month, supporting meaningful margin upside.
Click image above to view full announcement.
About Stonegate Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking services for public and private companies.
What did Pedevco (PED) report for FY25 production and revenue?
Pedevco reported FY25 production of 910.1 Mboe and revenue of $45.8M. According to the company, production rose 35% year-over-year and revenue increased 16%, reflecting the enlarged, oil-weighted Rockies platform after the Juniper merger.
Why did Pedevco (PED) record a net loss in FY25 despite higher EBITDA?
Pedevco recorded a FY25 net loss of $(10.4)M due to merger costs and one-time items. According to the company, accelerated share-based compensation, new interest expense, a note write-off, and tax expense drove the swing from FY24 net income.
How did Pedevco (PED) perform in 4Q25 after the Juniper merger?
In 4Q25 Pedevco reported production of 483.2 Mboe and revenue of $23.1M. According to the company, 4Q25 included only two months of acquired assets, with adjusted EBITDA nearly tripling to $15.4M on the combined platform.
What reserves and valuation metrics did Pedevco (PED) disclose on April 7, 2026?
Pedevco disclosed 32.1 MMBoe of proved reserves and a PV-10 of $357.7M. According to the company, these metrics reflect the enlarged asset base and underpin identified inventory beyond proved reserves.
What operational upside did Pedevco (PED) identify to improve margins?
Pedevco said $10M–$13M of optimization work could cut LOE by up to $1M per month. According to the company, this optimization could meaningfully enhance margins from the current operational base.
