PEDEVCO Q1 Production Rises 374%, Revenue Hits $40.2 Million
PED•PEDEVCO’s Q1 production surged 374% to 8,091 Boe/d, driving revenue up 360% to $40.2 million and Adjusted EBITDA rising 404% to $21.5 million. A $31.3 million non-cash derivative loss turned net income of $0.1 million into a $25.6 million net loss.
1. Q1 2026 Results Overview
Production averaged 8,091 Boe per day in Q1 2026, up 374% year-over-year, driving oil and gas revenue to $40.2 million and Adjusted EBITDA to $21.5 million, increases of 360% and 404% respectively. A $31.3 million non-cash loss on derivatives led to a net loss of $25.6 million for the quarter.
2. Merger and Operational Drivers
The transformative merger with Juniper Capital Advisors on October 31, 2025 added assets and brought 31 D-J Basin wells online, delivering stronger-than-expected initial production rates. These wells contributed to a 52% quarter-over-quarter output increase and supported rising cash flows.
3. Financial and Cost Details
Net cash from operating activities rose 78% to $10.5 million, boosted by higher cash margins and operating income. Lease operating expenses remained steady at $22.46 per Boe despite a 380% increase in total LOE to $16.4 million driven by the expanded asset base.
4. Outlook and Development Plans
PEDEVCO reaffirmed full-year production guidance of 6,500–7,000 Boe per day and an Adjusted EBITDA target of $60–$70 million, backed by $16–$20 million of planned capex. The company expects further well completions in the D-J Basin later in 2026 and continues evaluating over 1,000 identified drilling locations.
