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PEDEVCO Corp. applies modern drilling and well-completion methods to established oil and gas properties. Its assets span the Denver-Julesberg Basin in Colorado and Wyoming, the Powder River Basin in Wyoming, and the Permian Basin in West Texas and eastern New Mexico. It operates wells itself and also owns interests in wells run by other companies.
Crude oil supplies most of its revenue; natural gas and natural gas liquids contribute smaller amounts. Independent purchasers, marketers and midstream companies buy its production, generally under short-term agreements. Oil and gas sale prices follow market benchmarks, with adjustments and deductions for transportation and, for gas, processing and location. Two buyers account for a substantial share of sales, although PEDEVCO says alternative buyers are available. At wells it does not operate, the operator sells production, collects payment and passes PEDEVCO its share; one operator accounts for a substantial portion of production sales.
Cash generation depends on commodity prices and access to third-party pipelines and processing facilities. As existing wells decline, sustaining production requires capital to develop or acquire replacement reserves. Most Powder River Basin acreage is on federal land, where development requires federal permits; court action has halted drilling-permit approvals on certain leases, and some leases remain suspended and could be cancelled. In New Mexico, PEDEVCO must also reimburse the state for plugging inactive legacy wells under a regulatory order, reducing cash available for development.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
Evolution Petroleum Corporation shares the production, drilling costs and oil-price exposure of Chaveroo wells that PEDEVCO operates, holding a 50% working interest under their joint-development agreement. Evolution's Chaveroo oil sales to Phillips 66 give PEDEVCO holders a direct view of those shared wells' output.
Prairie Operating Co. and PEDEVCO both develop oil and gas for sale in Colorado's DJ Basin, so regional drilling costs and operating constraints matter to both. Prairie's Weld County well economics offer a comparison for PEDEVCO's Colorado development, rather than its other basins.
Occidental Petroleum Corporation and PEDEVCO both produce oil and gas in the DJ Basin, linking their exposure to oil prices and regional development costs. Occidental also operates near PEDEVCO's Powder River acreage, where nearby drilling and production data can help assess PEDEVCO's development options.
Devon Energy Corporation and PEDEVCO both sell oil produced in the Powder River Basin, so crude prices and local drilling economics affect both. Devon's nearby drilling results—and its reported expansion of Powder River drilling inventory after successful wells—can inform expectations for PEDEVCO's undeveloped acreage.
EOG Resources, Inc. drills near PEDEVCO's Powder River acreage, making its local oil and gas well results relevant to PEDEVCO's development prospects. For this oil and gas producer and seller, nearby well output and development costs are more useful to PEDEVCO holders than company-wide results.
Vitesse Energy and PEDEVCO both own interests that share producing wells' revenue and costs in the DJ and Powder River basins, but those regions are a small part of Vitesse's mainly Williston portfolio. Vitesse largely relies on other operators to sell its oil and gas, so its Central Rockies production and realized selling prices are the closer comparison for PEDEVCO.
SM Energy Company and PEDEVCO earn most production revenue from selling oil, tying both to crude prices and U.S. onshore drilling returns. Both develop Rockies and Permian assets, but in different basins and formations; oil supplied 82% of SM Energy's production revenue in 2025, making its oil revenue a broader comparison rather than a nearby-well signal.
Crescent Energy Company and PEDEVCO both buy and develop established oil and gas assets, so purchase economics and prices received for production matter to both. Crescent's spending needed to sustain oil and gas sales from its lower-decline production base offers a comparison for PEDEVCO's approach to older properties.
EIA Crude Oil Stocks Change (Oct/16)
The EIA’s weekly report tracks crude oil and gasoline held in storage; tighter reported supply can support the crude benchmarks that help set PEDEVCO’s oil sales prices, while looser supply can weigh on them.
Rising crude or gasoline stocks suggest looser supply and potential pressure on PEDEVCO’s crude sales prices; falling stocks suggest tighter supply and potential support for those prices.
Fed Interest Rate Decision
The Fed’s policy rate sets a benchmark for borrowing costs; changes can raise or lower the interest PEDEVCO pays on its $98 million floating-rate credit-agreement balance.
Expected4.0%Last release4.0%
If it comes in above expectations
If the policy rate is above expectations, higher borrowing costs can raise interest expense on PEDEVCO’s floating-rate debt and leave less operating cash for drilling and other obligations.
If it comes in below expectations
If the policy rate is below expectations, lower borrowing costs can reduce interest expense on PEDEVCO’s floating-rate debt and leave more operating cash for drilling and other obligations.
Crescent Energy Company earningsCRGY
Crescent Energy’s report will show how much it spends to sustain production from established assets, offering a comparison for PEDEVCO’s development and upkeep demands on cash.
Compare Crescent’s production trend with the capital spending needed to sustain it. Stable output with moderate spending would show that established assets can maintain sales with less cash; rising spending without production growth would underscore the pressure PEDEVCO faces in allocating cash between development and debt service.
EOG Resources, Inc. earningsEOG
EOG Resources’ report will show how output and development costs at wells near PEDEVCO’s Powder River acreage inform the case for developing that land.
Consider whether output from nearby Powder River wells is commensurate with development costs. Strong output at controlled costs would strengthen the case for PEDEVCO to develop nearby undeveloped acreage; weaker output or higher costs would make returns from new wells harder to support.
Evolution Petroleum Corporation earningsEPM
Evolution Petroleum’s report will show how output and costs at the Chaveroo wells it shares with PEDEVCO affect the production revenue PEDEVCO can receive.
Look at Chaveroo oil output alongside development and production costs. Steady or higher output with costs contained would indicate the shared wells can provide PEDEVCO with steadier sales revenue; lower output or higher costs would reduce the economics PEDEVCO receives from them.
Prairie Operating Co. earningsPROP
Prairie Operating’s report will show what its Weld County well output and costs say about the economics of PEDEVCO’s own Colorado development.
Read Weld County well output against drilling, completion and operating costs. Output that supports those costs would reinforce the economics of PEDEVCO’s Colorado development; insufficient output or high costs would point to thinner returns on new local projects.
PEDEVCO Corp. earningsThis company
PEDEVCO’s report will show whether added oil and gas production brings in enough revenue and cash to offset price, operating-cost and interest pressures.
Read production volumes, realized oil prices and production cost per Boe alongside operating cash flow. Rising production with steady operating cash flow would show that added barrels are absorbing price and cost pressure; rising production with weaker cash flow would show those pressures are eating into growth and leaving less room for debt service and development.
