Quarterly ResultMay 14, 2026, 04:19 PM
PEDEVCO Q1 Production +374% to 8,091 Boe/d; Adj. EBITDA +404%
AI Summary
PEDEVCO Corp. reported strong financial results for Q1 2026, with average daily production surging 374% year-over-year to 8,091 Boe/d and oil and gas revenue increasing 360% to $40.2 million. Adjusted EBITDA saw a significant 404% rise to $21.5 million, driven by the Juniper Merger and strong well performance. Despite these operational gains, the company posted a net loss of $(25.6) million, primarily due to a $31.3 million non-cash net loss on derivative contracts. Management expressed confidence in meeting full-year guidance, with plans for continued development activity.
Key Highlights
- Q1 2026 average daily production increased 374% YoY to 8,091 Boe/d, exceeding expectations.
- Oil and gas revenue increased 360% YoY to $40.2 million.
- Adjusted EBITDA increased 404% YoY to $21.5 million.
- Company reported a net loss of $(25.6) million, or $(3.28) per share, primarily due to $31.3 million net loss on derivative contracts.
- Net cash provided by operating activities increased 78% YoY to $10.5 million.
- Lease operating expenses increased 380% to $16.4 million, but remained flat on a per-Boe basis at $22.46.
- Incurred $16.5 million in cash paid for drilling and completion costs, primarily in the D-J Basin.
- Maintained full-year guidance of 6,500-7,000 Boe/d and $60-70 million Adjusted EBITDA.
Price Impact
More from PED
More in Quarterly Result