PEDEVCO CORP. Form 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed on January 13, 2015, by PEDEVCO CORP., a Texas corporation headquartered in Danville, California. The report discloses a material event regarding the company's oil and gas operations in Weld County, Colorado, specifically the initial production results from a new horizontal well.
Key Financial Metrics
The filing does not provide financial statements, revenue, profit, cash flow, margin, debt, or liquidity figures. The only quantitative data provided relates to operational production rates:
- Oil Production: 540 barrels of oil per day (bopd)
- Gas Production: 300 thousand cubic feet of gas per day (mcfgd)
- Total Equivalent: 590 barrels of oil equivalent per day (boepd)
Material Changes
The company announced the commencement of initial production from the Loomis 2-6H well. This well is the first of three new horizontal wells drilled and completed from a single pad in Weld County, Colorado. No prior period production data for this specific well is available for comparison as it is a new asset.
Guidance, Outlook, and Risks
Management commentary is limited to the announcement of the initial production rates. The filing notes that the information is "furnished" rather than "filed" under Regulation FD and is not subject to Section 18 liabilities of the Securities Exchange Act of 1934. No specific forward-looking guidance, risk factors, or contingencies are detailed within the text of this specific 8-K form.
Investor Verification Checklist
- Verify the sustained production rates of the Loomis 2-6H well beyond the initial start-up phase.
- Confirm the drilling and completion status of the remaining two horizontal wells planned for the single pad.
- Review the full text of the press release (Exhibit 99.1) for additional operational details not summarized in the 8-K.
- Check subsequent filings for financial impact analysis of this new production on the company's overall revenue and cash flow.