PEDEVCO Corp. has released its financial results for the second quarter of 2025, reporting a revenue of $7.0 million, which marks a decrease of $4.8 million compared to the same period in 2024. The company produced an average of 1,517 barrels of oil equivalent per day during this quarter, representing a 25% decrease from the previous year. The operating loss was recorded at $2.2 million, showing a reduction of $4.9 million from Q2 2024. The net loss for the quarter was $1.7 million, compared to a net income of $2.7 million in Q2 2024. This decline in net income was largely attributed to a note receivable credit loss, including a full write-off of a note receivable and related adjustments. Adjusted EBITDA also saw a decrease, dropping to $3.0 million from $7.4 million in the same quarter of the previous year. PEDEVCO reported cash and cash equivalents of $11.2 million as of June 30, 2025, with no debt. This financial position reflects an increase from $6.6 million at the end of 2024, primarily due to reduced cash outlay during the period. In terms of production, Q2 2025 saw a total of 138,028 barrels of oil equivalent produced, with liquids making up 86% of this figure. The average realized sales price for crude oil was $61.65 per barrel, while natural gas and natural gas liquids were sold at $2.70 per Mcf and $26.24 per barrel, respectively.
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