Riley Permian Declares Quarterly Cash Dividend and Reports Debt Reduction

OKLAHOMA CITY, Jan. 16, 2024 /PRNewswire/ -- Riley Exploration Permian, Inc. (NYSE American: REPX) ("Riley Permian" or the "Company") today announced that its Board of Directors has approved a cash dividend on the Company's common stock in the amount of $0.36 per share. The dividend is payable on February 8, 2024 to stockholders of record as of the close of business on January 25, 2024. The February 2024 dividend will represent the 20^th consecutive distribution made by the Company or its predecessor.

Additionally, the Company reported that it reduced the principal value of debt outstanding by $30 million during the fourth quarter of 2023 using available cash on hand. As of December 31, 2023, the Company had a principal balance of $185 million on its senior unsecured notes and outstanding borrowings of $185 million under its credit facility with $190 million of undrawn capacity.

About Riley Exploration Permian, Inc.
Riley Permian is a growth-oriented, independent oil and natural gas company focused on the acquisition, exploration, development and production of oil, natural gas, and natural gas liquids. For more information please visit www.rileypermian.com.

Investor Contact:

Rick D'Angelo
405-438-0126
IR@rileypermian.com

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SOURCE Riley Exploration Permian, Inc.