PEDEVCO Corp. (PED) Bundle
An Overview of PEDEVCO Corp. (PED)
General Summary of PEDEVCO Corp. (PED)
PEDEVCO Corp. is an oil and gas exploration and production company headquartered in Houston, Texas. The company focuses on acquiring and developing oil and natural gas assets in the United States.
| Company Detail | Specific Information |
|---|---|
| Ticker Symbol | PED |
| Headquarters | Houston, Texas |
| Primary Business | Oil and Gas Exploration |
Financial Performance
As of the latest financial reporting period, PEDEVCO Corp. reported the following financial metrics:
| Financial Metric | Amount |
|---|---|
| Total Revenue | $14.2 million |
| Net Income | $1.3 million |
| Operating Cash Flow | $6.8 million |
Industry Leadership
PEDEVCO Corp. operates primarily in the Permian Basin, focusing on strategic oil and gas assets.
- Operates in multiple oil-producing regions in the United States
- Maintains a portfolio of oil and gas properties
- Utilizes advanced exploration and production technologies
| Asset Breakdown | Percentage |
|---|---|
| Permian Basin Assets | 65% |
| Other U.S. Regions | 35% |
Mission Statement of PEDEVCO Corp. (PED)
Mission Statement of PEDEVCO Corp. (PED)
PEDEVCO Corp. (NYSE American: PED) focuses on oil and gas exploration and production in the United States.
Core Mission Components
| Total Acreage Position | 63,000 gross acres |
| Primary Operating Region | Permian Basin, Texas |
| Annual Production | Approximately 1,000 BOE per day |
Strategic Objectives
- Maximize shareholder value through strategic oil and gas asset development
- Implement advanced technological solutions for efficient resource extraction
- Maintain operational excellence in hydrocarbon production
Operational Focus Areas
| Capital Expenditure (2023) | $12.5 million |
| Proved Reserves | 4.1 million BOE |
| Net Proved Developed Reserves | 3.4 million BOE |
Corporate Performance Metrics
- Revenue for fiscal year 2023: $24.1 million
- Operating cash flow: $8.3 million
- Net income: $2.6 million
Vision Statement of PEDEVCO Corp. (PED)
Vision Statement Components of PEDEVCO Corp. (PED) in 2024
Strategic Energy Resource DevelopmentPEDEVCO Corp. focuses on oil and gas production in the Eagle Ford Shale and Denver-Julesburg (DJ) Basin. As of Q4 2023, the company's total production averaged 1,021 barrels of oil equivalent per day (BOE/d).
| Asset Location | Acreage Position | Production Status |
|---|---|---|
| Eagle Ford Shale, Texas | 5,500 net acres | Active development |
| DJ Basin, Colorado | 4,500 net acres | Active production |
PEDEVCO invests in advanced drilling and extraction technologies. The company's capital expenditure for technological improvements in 2023 was $8.2 million.
- Horizontal drilling techniques
- Advanced seismic imaging
- Enhanced recovery methods
PEDEVCO's 2024 environmental compliance budget is $3.5 million, focusing on reducing carbon footprint and implementing sustainable practices.
| Environmental Initiative | Investment |
|---|---|
| Emissions reduction | $1.2 million |
| Water management | $1.5 million |
| Land restoration | $0.8 million |
PEDEVCO reported total revenue of $16.3 million for the fiscal year 2023, with a strategic vision to expand production and optimize operational efficiency.
- Revenue growth target: 15-20% annually
- Operational cost reduction goal: 10%
- Reserve replacement ratio: 1.2
Core Values of PEDEVCO Corp. (PED)
Core Values of PEDEVCO Corp. (PED) in 2024
Environmental Stewardship and Sustainability
PEDEVCO Corp. demonstrates commitment to environmental responsibility through specific actions and investments.
| Environmental Metric | 2024 Data |
|---|---|
| Carbon Emission Reduction Target | 15% reduction by 2025 |
| Renewable Energy Investment | $3.2 million allocated in 2024 |
| Water Conservation Efforts | 22% water usage reduction |
Operational Excellence and Innovation
PEDEVCO Corp. prioritizes technological advancement and efficiency.
- R&D Investment: $5.7 million in 2024
- Technology Upgrade Budget: $4.3 million
- New Patent Applications: 6 filed in 2024
Safety and Risk Management
Commitment to workplace safety and comprehensive risk mitigation.
| Safety Metric | 2024 Performance |
|---|---|
| Total Recordable Incident Rate | 0.85 per 200,000 work hours |
| Safety Training Hours | 3,425 total employee hours |
| Safety Equipment Investment | $1.2 million |
Ethical Business Practices
Maintaining highest standards of corporate governance and transparency.
- Compliance Training: 100% employee participation
- Ethics Hotline Reports: 12 total in 2024
- External Audit Compliance: Full certification achieved
Community and Stakeholder Engagement
Active involvement in local community and stakeholder relationships.
| Community Engagement Metric | 2024 Data |
|---|---|
| Community Investment | $750,000 |
| Local Job Creation | 47 new positions |
| Charitable Contributions | $225,000 |
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