Pedevco Corp ( (PED) ) has released its Q3 earnings. Here is a breakdown of the information Pedevco Corp presented to its investors.
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Pedevco Corp. is an oil and gas company focused on developing and producing oil and natural gas assets in the Permian Basin and Denver-Julesberg Basin, leveraging modern drilling techniques to optimize legacy proven properties. In its latest earnings report for the quarter ending September 30, 2025, Pedevco Corp. reported a decline in revenue and net income compared to the previous year, with oil and gas sales totaling $6.961 million, down from $9.050 million in the same period in 2024. Key financial metrics indicate a net loss of $325,000 for the quarter, attributed to lower oil and gas sales and increased operating expenses, including a $907,000 impairment of oil and gas properties. Despite the challenges, the company continues to invest in its assets, with $17.22 million in capital costs incurred for drilling and completion operations in the Permian Basin and D-J Basin. Looking forward, Pedevco Corp. aims to enhance its asset base and explore strategic opportunities to drive growth, while addressing ongoing legal challenges and optimizing its financial position.