Past year: ▲ 2033%(45.5c – 16.00 USD)
Each one in plain English, with the numbers worked through for a shareholder.
20 May 2026debt financing▲ GoodMajor
On May 19, 2026, PEDEVCO and Citibank signed a third amendment to the credit agreement raising the borrowing base and elected commitments from $120 million to $125 million. It counted as the redetermination originally due around December 1, 2025, with the next one due around July 1, 2026.
8 May 2026debt financing● Neutral
PEDEVCO and Citibank signed a Second Amendment to the credit agreement on May 5, 2026, adjusting EBITDAX calculations for the Juniper acquisition and annualizing the test period. It also set the next borrowing-base redetermination for about July 1, 2026, following an immaterial December 2025 amendment that added a lender.
3 Mar 2026business combination▲ GoodMajor
On February 27, 2026, PEDEVCO's Series A preferred stock automatically converted 10-to-1 into common stock, issuing 106.5 million shares to the North Peak/Century affiliates and 63.6 million to the PIPE investors. The conversion triggered a change of control, with Edward Geiser obtaining voting control.
5 Feb 2026debt financing● NeutralMajor
A further $5 million drawn a month later, again with the preferred holders' consent -- $98 million of the $120 million borrowing base used since the October 2025 merger closed, and the second such consent in five weeks.
9 Jan 2026debt financing● NeutralMajor
PEDEVCO drew another $6 million on its Citibank facility on 8 January 2026 for non-operated well participation and payables. Because the Series A preferred holders must approve non-ordinary-course debt over $500,000, North Peak and Century, a majority of those holders, consented on 6 January.
3 Nov 2025business combination▲ GoodMajor
PEDEVCO closed a transformational merger, acquiring North Peak Oil & Gas and Century Oil and Gas Sub-Holdings (backed by Juniper Capital Advisors) for 10.65 million shares of new convertible preferred stock (convertible into 106.5 million common shares) plus a concurrent $35 million PIPE financing at $5.50/share led by Executive Chairman Dr. Simon Kukes' family trust and a Juniper Capital affiliate - by far the largest, most dilutive deal in the company's history, with the acquired companies' own CEO and CFO taking over as PEDEVCO's COO and CFO.
29 Oct 2025financial restatement▼ BadMajor
PEDEVCO restated its audited FY2024 financials after a tax-provision error overstated its tax benefit and deferred tax asset by about $5.5 million - the third restatement in roughly two years, again with no cash or liquidity impact, but a recurring pattern that raises real questions about the company's internal financial controls.
31 Mar 2025financial restatement▼ BadMajor
PEDEVCO restated its audited FY2023 and FY2022 financials after finding depletion-expense accounting errors that had overstated depreciation/depletion/amortization by about $1.4 million and $1.25 million respectively - the second restatement in under two years, with no cash or liquidity impact.
11 Mar 2025production update▲ Good
PEDEVCO finished drilling four gross (two net) horizontal San Andres wells in its Chaveroo Field, saying they were drilled on time and under budget. It planned to complete them in early Q2 2025, with first production expected in mid-Q2 2025.
20 Dec 2024material agreement▲ Good
PEDEVCO signed a sales agreement with Roth Capital Partners and A.G.P./Alliance Global Partners to sell up to $8 million of common stock through at-the-market offerings. The agents will earn a 3% commission, and the company is not obliged to sell any shares.
12 Sept 2024security holder rights change▲ GoodMajor
PEDEVCO secured its first conventional bank credit line: a four-year senior secured revolving facility from Citibank with an initial $20 million borrowing base (up to $250 million maximum), secured by nearly all company assets - a marked upgrade from the high-cost private note financing (RJ Credit and similar lenders) that had constrained the company for a decade.
9 Nov 2023asset acquisition disposition● Neutral
PEDEVCO sold a smaller package of oil & gas assets - including its EOR Operating Company subsidiary, part of the 2018 Permian entry - to Tilloo Exploration for $1.12 million, financed by a 5-year seller note at 10% interest, trimming a non-core piece of its portfolio.
16 Oct 2023financial restatement▼ BadMajor
PEDEVCO's Audit Committee determined its Q2 2023 financials needed restatement after finding a revenue-accrual error - unreversed accruals from new third-party well operators had overstated net revenue on 14 wells and skewed reported production, costs and depletion for the quarter. No misconduct was found and the fix was still preliminary.
13 Sept 2023material agreement▲ GoodMajor
PEDEVCO farmed out half its working interest in the Chaveroo Field (Permian Basin, New Mexico) to Evolution Petroleum, covering 16,000 gross acres across twelve development blocks where the two will jointly drill up to nine San Andres wells per block - Evolution paid $401,733 for the first two blocks with options to expand block-by-block, and PEDEVCO stays operator - a capital-light way to accelerate development of the asset it bought in 2018.
26 Aug 2022director officer appointment● Neutral
Housekeeping: extended SK Energy's sublease of 300 square feet at PEDEVCO's Houston office for two more years for a $24,000 lump sum, and granted restricted stock to three directors. The related-party arrangements with Kukes's vehicle now reach down to the office space.
8 Dec 2021drilling progress report▲ Good
PEDEVCO spudded the State 402H, the first of two new horizontal wells planned this month in its Permian Basin asset. The second, State 403H, was to follow, with first production from both expected in the first quarter of 2022.
18 Nov 2021material agreement▲ Good
PEDEVCO set up a new at-the-market equity sales facility with Roth Capital Partners for up to $3.6 million, adding a flexible ongoing funding tool alongside its 2021 capital raises.
6 Oct 2021material agreement▲ GoodMajor
PEDEVCO raised about $7 million gross in a registered direct offering (4.46 million shares at $1.57/share) to an institutional investor, earmarked for Permian and DJ Basin development and possible acquisitions - its second strongly-priced capital raise of 2021.
3 Feb 2021material agreement▲ GoodMajor
PEDEVCO raised about $7.8 million gross in an underwritten public offering (5.19 million shares at $1.50/share) led by Kingswood Capital Markets - pricing far above its distressed 2015-era raises, reflecting the 2021 oil-price recovery.
17 Nov 2020business combination▼ BadMajor
Terminated the SandRidge Permian Trust exchange offer on November 17, 2020 without acquiring any units; all tendered units were returned to holders — the bid failed.
17 Nov 2020listing compliance notice▼ Bad
PEDEVCO CORP withdrew a registration statement, abandoning the offering it covered.
13 Oct 2020business combination● NeutralMajor
Filed the S-4 registering PEDEVCO shares to be issued in the SandRidge Permian Trust exchange offer: 0.4 shares of PEDEVCO common stock for each Trust common unit tendered.
13 Oct 2020business combination● NeutralMajor
Through its subsidiary SRPT Acquisition, LLC, PEDEVCO launched an exchange offer for all 52.5 million common units of SandRidge Permian Trust, at 0.4 of a PEDEVCO share per unit. The filing valued the deal at about $23.5 million.
31 Mar 2020director officer appointment▼ BadMajor
Cut every salary by 20% as the oil price collapsed, and gave President Schick the right to leave with a year's pay if even the reduced salary went unpaid. The same announcement carried PEDEVCO's best year yet -- $13 million of revenue, production up 186% to 266,070 barrels of oil equivalent, reserves up to 14.0 million barrels, and the first positive operating cash flow in over a decade -- reported the week the market took it all away.
18 Sept 2019capital raising announcement▲ GoodMajor
Raised $25 million in fresh equity: $12 million from new, unaffiliated investor Viktor Tkachev at $1.4286/share and a further $13 million from SK Energy at a premium price, broadening the investor base slightly beyond the CEO.
12 Aug 2019capital raising announcement● NeutralMajor
An amended report on the May 2019 raise: SK Energy bought 6,818,181 shares at $2.20, a premium to market, for $15.0 million, lifting Kukes's holding from 78.2% to 81.0%, alongside 1,500,000 shares sold to two unaffiliated buyers at $2.00. The money went into the 2019 Permian drilling programme and further Permian acquisitions.
What it means for a shareholder
6.8m new shares at US$2.20 to raise about US$15.0m. That's 11% dilution: every existing holder's slice gets 11% smaller. If you held US$1,000 of shares (455 at the issue price), your slice goes from 0.000844% to 0.000749% of the company. To keep it you'd need 58 more shares - about US$128 at the issue price.
Create a free account to see this worked out for your own holding.
21 May 2019capital raising announcement▲ GoodMajor
SK Energy invested a further $15 million in cash at $2.20/share — a premium to market — to fund the 2019 Permian development and acquisition program, raising Dr. Kukes' stake from 78.2% to 81.0% of the company.
4 Mar 2019capital raising announcement▼ BadMajor
SK Energy's $7.7 million June 2018 note was made convertible at $2.13 per share, and SK Energy bought $1.5 million of August 2018 notes from insiders and directors. Both holders then converted all $31.3 million of principal into 15.4 million shares, leaving the company debt-free.
19 Feb 2019capital raising announcement▼ BadMajor
PEDEVCO and SK Energy removed the 49.9% ownership cap on the convertible notes. SK Energy then converted about $22 million of the January 2019 and October 2018 notes into roughly 14.1 million shares, which are 47.1% of the company and took Dr. Kukes to 73.4%.
13 Feb 2019drilling progress report▲ Good
PEDEVCO said it completed a workover on the Domino 21-16 well, acquired February 1, 2019, which averaged about 120 barrels of oil per day over more than 5 days. Completions on four Chaveroo horizontal wells were underway, and another well offsetting Domino was planned by March 1, 2019.
