Riley Exploration Permian Inc
AMEX:REPX
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Riley Exploration Permian Inc
Riley Exploration Permian, Inc. is an independent oil and natural gas company. The company is headquartered in Oklahoma City, Oklahoma and currently employs 54 full-time employees. The firm is focused on the acquisition, exploration, development and production of oil, natural gas, and natural gas liquids (NGLs) in Texas and New Mexico. The firm is engaged in exploring its assets in the Permian Basin. The Company’s activities are primarily focused on the San Andres Formation, a conventional shelf margin deposit on the Central Basin Platform and Northwest Shelf. Its acreage is primarily located on contiguous blocks in Yoakum County, Texas and Lea, Roosevelt, and Chaves Counties, New Mexico.
Riley Exploration Permian, Inc. is an independent oil and natural gas company. The company is headquartered in Oklahoma City, Oklahoma and currently employs 54 full-time employees. The firm is focused on the acquisition, exploration, development and production of oil, natural gas, and natural gas liquids (NGLs) in Texas and New Mexico. The firm is engaged in exploring its assets in the Permian Basin. The Company’s activities are primarily focused on the San Andres Formation, a conventional shelf margin deposit on the Central Basin Platform and Northwest Shelf. Its acreage is primarily located on contiguous blocks in Yoakum County, Texas and Lea, Roosevelt, and Chaves Counties, New Mexico.
Production Growth: Oil production rose by 22% quarter-over-quarter to 1.69 million barrels, with total equivalent production up 34% to 2.98 million BOE, driven by the Silverback acquisition and operational gains.
Silverback Acquisition: The integration outperformed expectations, with acquired production exceeding forecasts by over 50% in September and October, and significant cost synergies already realized.
Dividend Increase: The company raised its quarterly dividend to $0.40 per share, marking the 19th consecutive payment and a 5% increase from the previous quarter.
Cost Control: Lease operating expense per BOE held near $9, up just 6% quarter-over-quarter despite nearly doubling well count, as synergies and efficiency improvements offset higher costs from vertical wells.
Guidance Raised: Fourth quarter oil production guidance was increased by 4% at the midpoint to 19,200 barrels per day, and full-year oil production guidance was raised by 2%.
Strong Free Cash Flow: Upstream free cash flow reached $39.4 million for the quarter and $100 million year-to-date, flat with last year despite a 14% drop in realized oil prices.
Midstream & Power Projects: Major infrastructure build-outs are advancing, with expanded gas compression coming online and power generation projects progressing, supporting future scalability.
