Pedevco SEC Filings

PEDEVCO Corp. reported a sharp operational step-change in Q1 2026 following its October 2025 Juniper merger, but posted a GAAP net loss driven by hedge mark-to-market. Production rose 374% to 728,141 Boe (8,091 Boe/d), and oil and gas revenue increased 360% to $40.2 million versus Q1 2025.

Adjusted EBITDA grew 404% to $21.5 million, while operating income reached $6.7 million. However, the company recorded a net loss of $25.6 million, or $(3.28) per share, mainly from a $31.3 million net loss on derivative contracts, largely non‑cash unrealized losses reflecting higher commodity prices relative to its hedge book.

Net cash provided by operating activities increased 78% to $10.5 million. As of March 31, 2026, PEDEVCO had $11.3 million in cash and restricted cash, $98.0 million outstanding under its revolving credit facility, total assets of $370.1 million and shareholders’ equity of $182.2 million. Management reaffirmed 2026 guidance of 6,500–7,000 Boe/d and $60–$70 million of Adjusted EBITDA on $16–$20 million of net capital expenditures.

PEDEVCO Corp. reported sharply higher activity for the quarter ended March 31, 2026 following its recent DJ and Powder River Basin acquisitions, but posted a net loss driven by hedge mark-to-market effects.

Revenue rose to $40.2M, up from $8.7M a year earlier, as production from newly acquired assets contributed. Operating income was $6.7M, but a $31.3M net loss on derivative contracts and $2.0M of interest expense turned results into a net loss of $25.6M or $3.28 per share.

The company closed the North Peak/Century merger in late 2025 for total consideration of about $179.9M, funded with cash, credit facility borrowings and Series A Convertible Preferred Stock that automatically converted into 8.5 million common shares in February 2026. It also completed a 1‑for‑20 reverse stock split effective March 13, 2026, with all share data retroactively adjusted.

At quarter-end, PEDEVCO held total assets of $370.1M, shareholders’ equity of $182.2M, and $98.0M outstanding under its amended and restated revolving credit facility, with an effective interest rate of about 8.4%. Net cash provided by operating activities was $10.5M, and the company spent $16.5M on drilling and completion, largely for DJ Basin non‑operated wells, while also recording $1.6M of impairment on undeveloped DJ leases and a sizeable non‑cash increase in asset retirement obligations.

PEDEVCO Corp. entered into a Second Amendment to its Amended and Restated Credit Agreement with Citibank, N.A. and its lenders. The amendment updates the definition of EBITDAX, including a cap on permitted transaction cost add-backs set at the greater of $6,000,000 or 5% of the then-current borrowing base, which is currently $120 million.

The amendment also allows an estimated October 2025 EBITDAX add-back for acquired Juniper assets in certain test periods, shifts the Test Period toward a trailing twelve‑month calculation by the period ending September 30, 2026, and revises the borrowing base redetermination and reserve report delivery schedules beginning mid‑2026.

PEDEVCO CORP director John K. Howie received additional equity compensation. He acquired 782 shares of Common Stock at $15.98 per share as a grant or award, taken in lieu of cash compensation for board services under the company’s 2021 Equity Incentive Plan. Following this award, he holds 10,356 shares directly.

PEDEVCO Corp. reported a transformational 2025 shaped by its October Juniper merger, which drove a sharp step-up in scale and reserves but led to a reported loss. Fourth quarter 2025 revenue rose to $23.1 million, up 118% year over year, with Adjusted EBITDA of $15.4 million, nearly three times the prior-year quarter, as average daily production reached 5,310 Boe/d. For full-year 2025, revenue increased to $45.8 million and Adjusted EBITDA grew 18% to $27.0 million, while the company recorded a net loss of $(10.4) million driven by $7.5 million of merger-related costs, higher share-based compensation, new interest expense and income tax expense. Year-end 2025 proved reserves grew to 32.1 MMBoe with PV-10 of $357.7 million, the borrowing base-backed credit facility balance reached $87.0 million, and management issued 2026 guidance targeting Adjusted EBITDA of $60–$70 million and capital spending of $16–$20 million.

PEDEVCO Corp. filed its annual report detailing a transformative year marked by a 1-for-20 reverse stock split, a large Rockies-focused acquisition and expanded financing capacity. The reverse split became effective on March 13, 2026, and the stock now trades on a post-split basis under the symbol PED.

Through an October 2025 merger, PEDEVCO acquired North Peak Oil & Gas and Century Oil and Gas Sub-Holdings, adding substantial leasehold in the D-J and Powder River Basins. The company issued 10,650,000 shares of Series A Convertible Preferred Stock, which automatically converted into 5,325,000 common shares in February 2026.

PEDEVCO also completed a $35 million PIPE offering of 6,363,637 Series A preferred shares at $5.50 each, converted into 3,181,818 common shares. An amended and restated credit facility now provides a $120 million borrowing base (up to $250 million total), with $98 million outstanding, supporting a 2026 capital program estimated at $16–20 million and 32.1 million Boe of proved reserves.

PEDEVCO Corp. outlines its post‑Juniper merger profile, highlighting a Rockies-focused oil and gas platform with >310K net acres across the DJ Basin, Powder River Basin and Permian. The company targets ~6,400‑6,500 Boe/d net production, with roughly 88% liquids and more than 1,100 gross drilling locations.

The presentation cites 32.1 MMBoe of proved reserves with PV‑10 of $357.7MM, or about $26.90 per share, and pro forma 2026 Adjusted EBITDA of $60MM‑$70MM. Net debt is shown at roughly $84MM at year‑end 2025, implying ~1.3x Net Debt/EBITDA and an estimated ~$316MM enterprise value.

Management emphasizes a simple capital structure built on public equity and an RBL facility with a $120MM borrowing base, plus new equity capital including $18.55MM from Juniper. They target $3‑4MM of G&A synergies and $8‑10MM in annualized LOE savings by mid‑2027, with further cost optimization, Rockies consolidation opportunities, and a multi‑year development runway framed as key value drivers.

PEDEVCO reported record preliminary fourth-quarter and full-year 2025 results driven by its Juniper merger and development program. Q4 2025 revenue is expected at $22.5–$23.5M, more than double 4Q24, with Adjusted EBITDA of $14.5–$15.5M, nearly triple the prior year quarter.

Average daily production in Q4 rose to 5.0–5.5 Mboe/d versus 2.2 Mboe/d, while full-year 2025 production increased to 2.4–2.5 Mboe/d from 1.8 Mboe/d. Management highlights that Q4 reflects only a partial-quarter contribution from Juniper, and notes the merger added about 1,800 barrels per day of incremental production.

The company expects higher 2026 earnings power as post-merger synergies are realized and recently completed wells ramp production. All figures are preliminary, unaudited estimates subject to adjustment, with detailed results to be discussed on an earnings call on April 1, 2026.

PEDEVCO Corp. approved and implemented a 1-for-20 reverse stock split of its common stock. At the effective time on March 13, 2026, every 20 issued and outstanding shares will convert into 1 share, reducing issued and outstanding common shares from approximately 266.0 million to approximately 13.3 million.

The number of authorized shares will not change, so the company will have more shares available for potential future issuance relative to those outstanding. The split does not affect the par value, voting rights, or core terms of the common stock. Fractional shares will not be issued; instead, affected holders will receive cash based on the closing price before effectiveness.

Outstanding stock options and other equity awards, including plan reserves, are proportionately adjusted at the 1-for-20 ratio, with exercise prices increased inversely so the aggregate exercise cost per award remains approximately the same. Existing S-3 and S-8 registration statements will automatically adjust the number of registered but undistributed shares under Rule 416(b) to reflect the reverse split.