PEDEVCO Corp. Completes 1-for-20 Reverse Stock Split and Reports 2025 Financial Performance

PEDEVCO Corp. Executes Reverse Stock Split and Navigates Strategic Shifts

PEDEVCO Corp. announced the completion of a 1-for-20 reverse stock split, effective March 13, 2026. This action consolidated every twenty shares of issued and outstanding common stock into one share, with stockholders receiving cash in lieu of fractional shares. The company's common stock began trading on the NYSE American on a post-split basis on the same day, under the existing ticker symbol "PED" but with a new CUSIP number. The reverse stock split also proportionately adjusted the number of shares issuable upon exercise of stock options and other equity awards, as well as the exercise price of outstanding stock options.

The company's financial performance for the year ended December 31, 2025, showed total revenues of $45.8 million, compared to $39.6 million in the previous year. Oil production reached 672,924 barrels with an average sales price of $59.78 per barrel, while natural gas production totaled 770,919 Mcf at an average sales price of $3.45 per Mcf. NGL production amounted to 108,657 barrels with an average sales price of $26.30 per barrel. Total production reached 910,068 Boe, averaging 2,494 Boe per day, with average production costs of $11.62 per Boe.

PEDEVCO strategically shifted its asset portfolio, selling its legacy operated wells in the D-J Basin to reduce plugging and abandonment liabilities. Simultaneously, the company expanded its footprint through a merger agreement, acquiring significant leasehold interests in the D-J Basin and Powder River Basin. This merger involved the issuance of Series A Convertible Preferred Stock, which subsequently converted into common stock in February 2026. The company also entered into an Amended and Restated Credit Agreement with Citibank, N.A., providing for an initial borrowing base of $120 million and a maximum revolving credit amount of $250 million, of which $98 million has been drawn down.

Looking ahead, PEDEVCO anticipates capital expenditures ranging from $16 million to $20 million for 2026, primarily focused on drilling and completion activities in the D-J Basin and optimization projects on newly acquired assets. The company expects to fund these expenditures through a combination of cash flow from operations, existing cash on hand, and potential debt or equity financings. PEDEVCO plans to continue evaluating non-operated well proposals and participate in projects that meet its economic thresholds, while prioritizing financial strength and liquidity.