Welcome to our dedicated page for Riley Exploration Permian news (Ticker: REPX), a resource for investors and traders seeking the latest updates and insights on Riley Exploration Permian stock.
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, Inc. (NYSE American: REPX) announced a cash dividend of $0.31 per share, payable on August 8, 2022, to stockholders of record by July 25, 2022. This declaration reflects the company's commitment to returning value to its shareholders amidst its operations focused on the acquisition and production of oil and natural gas.
Riley Exploration Permian (NYSE American: REPX) will participate in several upcoming investor conferences. Key events include the 2022 Louisiana Energy Conference on June 2-3 in New Orleans, with a panel presentation on June 3 at 8:00 am CT. They will also attend the 12th Annual LD Micro Invitational from June 7-9 in Los Angeles, featuring a presentation on June 7 at 3:30 PT. Lastly, they will join the 8th Annual Roth London Conference on June 22-23 in London for 1-on-1 meetings.
Riley Exploration Permian reported Q2 FY2022 results with an average oil production of 7.5 MBbls per day, a 24% increase year-over-year. Despite a net loss of $7 million, the adjusted net income was $19 million, with operating cash flow of $30 million. The company generated $34 million in Adjusted EBITDAX and paid $6 million in dividends. Proved reserves stand at 73 MMBoe, with a PV-10 value of $1,090 million. Future guidance includes increased production volumes for Q3 and FY2022, with capital expenditures planned at $102-111 million for the year.
Riley Exploration Permian announced an amendment to its senior secured revolving credit facility, extending the maturity from September 2023 to April 2026. The borrowing base increased by 14%, from $175 million to $200 million. The amendment also relaxed minimum hedging requirements, allowing for more flexible hedging decisions. As of April 29, 2022, the company had $63 million drawn on the facility with $137 million available. The new hedge requirements cover 25% of forecasted PDP production volumes for the next 24 months, down from 50%.
Riley Exploration Permian (NYSE American: REPX) plans to release its fiscal second-quarter 2022 financial and operating results on May 11, 2022, post-market close. Management will host a conference call on May 12, 2022, at 10:00 a.m. CT, to discuss the results and conduct a Q&A session. Participants can join by dialing 1 (888) 330-2214 (toll-free) or 1 (646) 960-0161 (toll). A replay will be available until May 26, 2022. The company is focused on oil and natural gas acquisition, exploration, and production.
Riley Exploration Permian, Inc. (NYSE American: REPX) has announced a cash dividend of $0.31 per share on its common stock. This dividend will be paid on May 5, 2022 to stockholders of record by the close of business on April 21, 2022. The declaration reflects the company's commitment to returning value to its shareholders while focusing on growth in oil and natural gas production.
On March 17, 2022, Riley Exploration Permian (NYSE American: REPX) announced a stock distribution of 400,000 shares made by Yorktown Energy Partners V to its partners after market close on March 16, 2022. Post-distribution, Yorktown V holds 215,784 shares (1.1% of total shares), while entities managed by Yorktown Partners own approximately 30% of Riley Permian. CEO Bobby D. Riley noted that the public float has increased to about 3.99 million shares, enhancing liquidity for investors.
Riley Exploration Permian (REPX) reported a strong fiscal first quarter for 2022, highlighting a 31% increase in production to 9.9 MBoe per day, with 73% from oil. The company achieved a net income of $21.4 million and generated $27.1 million in Adjusted EBITDAX. Operating cash flow was reported at $21.7 million, with capital expenditures totaling $20.7 million. The company declared dividends of $0.31 per share, amounting to $6.1 million. Positive developments include progress on their EOR project and upcoming capital spending guidance of $26-$32 million.
Riley Exploration Permian (NYSE American: REPX) announced the appointment of Rebecca L. Bayless to its Board of Directors, expanding the Board from five to six members, effective January 25, 2022. Bayless brings over 25 years of experience in the oil and gas sector, having held crucial financial roles in successful E&P companies. The Company plans to release its financial results for Q1 2022 on February 14, 2022, followed by a conference call on February 15, 2022, at 10:00 a.m. CT.
Riley Exploration Permian (NYSE American: REPX) declared a quarterly cash dividend of $0.31 per share, payable on February 9, 2022, to shareholders of record by January 26, 2022. This decision reflects the company's commitment to returning value to its investors as it continues its focus on the growth and development of oil and natural gas resources.
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