Pedevco Corp. (PED)

[RyGuy]

$PED Running some numbers to think about

Past 3 years from existing wells, PED averaged 715 Boe/d. 2021-727, 2020-691, and 2019-729.

In December 2021, PED spud 2 new wells in the Permian Basin, and announced would begin production Mid Feb 2022. New Permian wells, historically averaged over 450 Boe/d. Based on this article it suggests production numbers could be potentially much higher on the new wells, based on lateral well lengths maybe 500-600 Boe/d.
https://www.ogj.com/drilling-production/production-operations/unconventional-resources/article/14232836/rystad-permian-new-well-productivity-to-pass-1000-boed-in-2022-on-record-lateral-footage
But I'll use 400 Boe/d per well to be safe.

On February 7th, 2022 PED announced the completed acquisition of new well interests in the D-J Basin. The ten recently completed wells had average gross production of 661 barrels of oil equivalent per day (BOEPD) per well (85% oil) for the month of January 2022. Total 14 wells. Say potentially 8,210 Boe/d @ assumed average 5% interest..

715 Boe/d
800 Boe/d *Potentially higher based on lateral well length...
410 Boe/D *New working interests
1925 Boe/d @ $100 oil

That is potentially $192,500 per day to PED.

$5.8M per month.