PEDEVCO Third-Quarter Revenue Rises 411% to $35.5 Million as Production Climbs 298% to 5,850 Boe per Day
PEDEVCO Corp. (NYSE American: PED) on November 12 in Houston reported unaudited financial results for the third quarter ended September 30, 2026. The company is engaged in the acquisition and development of strategic oil and gas assets in the Rocky Mountain region.
Oil and gas revenue increased 411 percent to $35.5 million, compared with $7.0 million in the prior-year period, driven by significantly higher production volumes and a 31 percent increase in the average realized oil price to $83.81 per barrel. Revenue declined about 23 percent sequentially from $46.1 million in the second quarter.
Third-quarter production increased 298 percent to 538,231 Boe, or an average of 5,850 Boe per day, compared with 135,266 Boe, or 1,471 Boe per day, in the third quarter of 2025, reflecting the contribution of the asset base acquired in the fourth-quarter 2025 merger. Average daily production was down 14 percent from 6,801 Boe per day in the second quarter.
The company reported a third-quarter net loss of $9.2 million, or $0.70 per common share, compared with a net loss of $0.3 million, or $0.07 per share, a year earlier. The quarter included a $16.6 million net loss on derivative contracts, of which $12.0 million was a non-cash unrealized loss. Adjusted EBITDA, a non-GAAP measure, was $14.7 million, compared with $4.3 million a year earlier and $18.7 million in the second quarter. Beginning with the third quarter, Adjusted EBITDA also excludes severance costs, which totaled $2.1 million in the quarter.
PEDEVCO reiterated full-year 2026 Adjusted EBITDA guidance of $60 million to $70 million, with $51.5 million generated through September, and production guidance of 6,500 to 7,000 Boe per day. Full-year net capital expenditure guidance was raised to a range of $37 million to $42 million.
Source: PEDEVCO
Published by GSM · USA (original Chinese edition)
Photo: 图：油田井口的抽油机（磕头机）。来源：Chad Davis，Wikimedia Commons，CC BY 2.0。 / Photo: A pumpjack at an oil wellhead. Source: Chad Davis, Wikimedia Commons, CC BY 2.0.
