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Company Overview
Riley Exploration Permian Inc. (REPX) is an independent oil and natural gas company that specializes in the exploration, acquisition, development, and production of hydrocarbon resources. With a primary focus on high-growth energy exploration opportunities in the Permian Basin, the firm leverages advanced technical expertise and sophisticated evaluation techniques to identify and develop valuable assets. The Company is renowned for its expertise in horizontal drilling, particularly in formations such as the San Andres, which underscores its commitment to operational excellence and field development efficiency.
Operational Excellence and Technical Expertise
At the core of Riley Exploration Permian's success is its robust technical foundation and operational experience. The Company applies state-of-the-art horizontal drilling methods and well completion techniques to maximize recovery of oil and natural gas from its properties. By utilizing cutting-edge evaluation processes and embracing innovative drilling practices, Riley Permian maintains a competitive edge in a challenging and dynamic industry. This technical emphasis enables the organization to manage complex reservoirs effectively, thereby optimizing production and extending asset life.
Strategic Operations and Geographic Focus
Riley Exploration Permian has established a strong operational presence in key regions that include, but are not limited to, proprietary assets in Kansas, Tennessee, and expansive positions throughout the Permian Basin. The extensive portfolio not only provides geographical diversification but also allows the Company to optimize production strategies across different asset types. The firm’s emphasis on horizontally drilling in geologically favorable zones is a testament to its strategic approach to asset development, delivering robust production profiles while maintaining procedural and operational rigor.
Acquisitions and Capital Efficient Development
The Company is recognized for its disciplined approach to acquisitions and capital allocation. By targeting high-quality acreage with significant development potential, Riley Permian enhances its resource base and operational flexibility without overextending its capital resources. This approach includes the prudent use of proceeds from asset sales and public offerings to fund strategic acquisitions, facilitate debt repayment, and finance ongoing capital expenditures that reinforce the strength of its development pipeline.
Integration of Joint Ventures and Midstream Initiatives
In addition to its traditional exploration and production activities, Riley Exploration Permian actively pursues strategic partnerships and joint ventures that enhance its operational footprint. A notable example is its collaboration to form a joint venture focused on building power generation and storage assets. This initiative not only leverages the Company’s produced natural gas but also diversifies its revenue mix by integrating midstream and upstream operations. Such diversified efforts contribute to a more resilient business model while highlighting the Company’s commitment to operational innovation and enhanced asset utilization.
Market Position and Competitive Advantages
Riley Exploration Permian is strategically positioned within the oil and gas sector due to its specialized focus on the Permian Basin and its advanced drilling technologies. The Company’s methodological approach to identifying and developing resource-rich formations distinguishes it from its peers. Its competitive advantages are further underscored by a culture of technical rigor and operational discipline, ensuring that it can generate production efficiencies and maintain robust asset performance in an increasingly competitive market environment.
Commitment to Expertise and Transparency
With a strong emphasis on transparency and technical proficiency, Riley Exploration Permian continuously provides detailed insights into its development strategies and operational performance. Investors and market analysts benefit from the Company’s comprehensive approach to asset management, which is built on years of industry experience and a deep understanding of geological assessments and drilling dynamics. This commitment to operational clarity and consistent communication reinforces the Company’s reputation as a knowledgeable and reliable player in the energy sector.
Conclusion
In summary, Riley Exploration Permian Inc. stands as a sophisticated and knowledgeable independent oil and gas company. Its focus on strategic asset development through advanced horizontal drilling, geographical diversification, and integrated joint ventures positions it well within the competitive landscape. The Company’s technical expertise, coupled with its capital-efficient development strategies, underscores its ability to navigate the complexities of energy production while delivering reliable operational performance.
Riley Exploration Permian (NYSE: REPX) reported strong financial and operational results for Q4 and full-year 2024. The company achieved total production of 22.5 MBoe/d (15.1 MBbls/d oil) for 2024, representing 22% total production growth and 15% oil production growth year-over-year.
Key 2024 financial highlights include:
- Generated $246M in operating cash flow
- Achieved $117M in Total Free Cash Flow (67% growth)
- Reduced debt by $90M
- Paid dividends of $1.46 per share ($31M total)
The company's proved reserves increased 15% to 124 MMBoe, with oil representing 54% of total reserves. For 2025, Riley Permian projects total production of 24.6-25.6 MBoe/d and plans capital expenditures of $188-232M, including investments in upstream operations, midstream development, and power joint venture projects.
Riley Exploration Permian (NYSE American: REPX) has announced it will release its fourth quarter and full year 2024 financial and operating results on March 5, 2025, after U.S. market close. The company will host a conference call for investors and analysts on March 6, 2025, at 9:00 a.m. CT.
The earnings call will include a Q&A session and an updated company presentation will be available on Riley Permian's website prior to the call. Participants can join using toll-free (1-888-596-4144) or toll (1-646-968-2525) numbers with conference ID 1303008. A replay will be available until March 20, 2025.
Riley Exploration Permian (NYSE American: REPX) has announced a quarterly cash dividend of $0.38 per share. The dividend will be paid on February 6, 2025, to shareholders who are recorded as stockholders at the close of business on January 23, 2025. The dividend declaration was approved by the company's Board of Directors.
Riley Exploration Permian (NYSE: REPX) has announced significant amendments to its senior secured revolving credit facility. The key changes include extending the facility maturity from April 2026 to December 2028, a 7% increase in borrowing base and commitment levels from $375 million to $400 million, and an expansion of the lending syndicate to nine total lenders. As of December 13, 2024, the company had drawn $117 million on the facility, leaving $283 million in available credit.
Riley Permian (REPX) reported Q3 2024 financial results with total production averaging 23.4 MBoe/d (66% oil). The company generated $72.1 million in operating cash flow and $37.8 million in Free Cash Flow. Revenue totaled $102.3 million with net income of $25.7 million ($1.21 per diluted share). The company reduced debt by $35.0 million and paid dividends of $0.36 per share. Notable operational updates include completing installation of 20 MW electrical generation capacity and discontinuing the EOR Project, resulting in a $30.2 million impairment charge.
Riley Exploration Permian (NYSE American: REPX) has announced a 6% increase in its quarterly cash dividend to $0.38 per share, payable on November 7, 2024, to stockholders of record as of October 24, 2024. This represents an increase from the previous $0.36 per share dividend distributed in the four preceding quarters. Additionally, the company has scheduled its third quarter 2024 earnings release for November 6, 2024, after U.S. financial markets close.
A conference call for investors and analysts is planned for November 7, 2024, at 9:00 a.m. CT to discuss the results and host a Q&A session. An updated company presentation will be available on Riley Permian's website prior to the call. A replay of the call will be accessible until November 21, 2024.
Riley Exploration Permian (NYSE American: REPX) reported its Q2 2024 results, showcasing a strong financial and operational performance. The company achieved a total equivalent production of 21.3 MBoe/d, including 14.7 MBbls/d of oil. Key financial highlights include $105.4 million in revenue, $51.6 million in operating cash flow, and $33.5 million in net income, equating to $1.59 per diluted share.
The company generated Free Cash Flow of $38.3 million and paid $7.5 million in dividends. Debt reduction was substantial, with $20 million repaid. An additional $25.4 million raised through equity helped facilitate the acquisition of 13,900 net acres in New Mexico.
Management highlighted cost efficiencies in drilling and completion activities, contributing to improved free cash flow. The company expanded its power joint venture, RPC Power , increasing its ownership to 50% and planning new energy projects for ERCOT.
Guidance for Q3 and full-year 2024 includes projections for drilling, completions, and production, maintaining a focus on operational efficiency and financial prudence.
Riley Exploration Permian (NYSE American: REPX) has declared a quarterly cash dividend of $0.36 per share, payable on August 8, 2024, to shareholders of record as of July 25, 2024. The company will release its Q2 2024 financial results on August 7, 2024, post-market close. Riley Permian's management will host a conference call on August 8, 2024, at 9:00 a.m. CT to discuss these results and conduct a Q&A session. The call details and a presentation will be available on the company's website, with a replay accessible until August 22, 2024.
Conduit Power and Riley Permian have announced an expansion of their joint venture, RPC Power. This agreement will enable the construction of new power generation and storage assets for the sale of energy and ancillary services to ERCOT, the Texas power grid operator. RPC Power, initially formed in March 2023, uses Riley Permian's natural gas to power oilfield operations in Yoakum County, Texas. The expansion includes plans for 100MW of natural gas-fueled generation and battery storage systems across multiple West Texas facilities, targeting commercial operations in 2025. Conduit will manage these facilities, while Riley Permian will increase its stake to 50% and supply up to 10 MMcf/d of natural gas. This initiative aims to improve grid resiliency, flexibility, and profitability, leveraging West Texas's abundant natural gas and addressing power supply shortfalls.
Riley Exploration Permian, Inc. (NYSE American: REPX) reported strong financial and operational results for the first quarter of 2024. The company achieved 20.4 MBoe/d of total equivalent production, generated $56 million of operating cash flow, and reduced debt by $15 million. Riley Permian closed on an acquisition in New Mexico, adding valuable development inventory. Despite a loss on derivatives, the company reported net income of $19 million. The company issued shares, raising approximately $25.9 million. Overall, Riley Permian's performance showed growth and strategic expansion.
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