Riley Exploration Permian Inc. Stock Price, News & Analysis

Riley Exploration Permian, Inc. (NYSE American: REPX) has declared a cash dividend of $0.34 per share on its common stock. This dividend is scheduled for payment on May 9, 2023, to stockholders of record as of April 25, 2023. The announcement emphasizes the company’s commitment to returning value to its shareholders while continuing its focus on the acquisition, exploration, and production of oil and natural gas. This move reflects a strong cash position and signals ongoing confidence in the company's operations amidst market fluctuations.

Riley Exploration Permian, Inc. (NYSE American: REPX) has successfully completed its acquisition of New Mexico oil and natural gas assets from Pecos Oil & Gas, LLC for $330 million. The transaction was financed through $200 million in new senior unsecured notes, maturing in April 2028, and borrowings from its existing credit facility. The company also increased its credit facility's borrowing base by $100 million to $325 million. This acquisition enhances Riley's asset base and growth potential in the oil and gas sector.

Riley Exploration Permian, Inc. (NYSE American: REPX) will participate in the 35th Annual Roth Conference from March 12-14, 2023, at The Ritz Carlton, Laguna Niguel, CA. Management will engage with investors through 1-on-1 meetings on March 13 and 14. The company, focused on the acquisition, exploration, development, and production of oil and natural gas, aims to highlight its growth strategy at the conference. For investor inquiries, contact Rick D'Angelo at 405-438-0126 or via email at IR@rileypermian.com. For more information, visit www.rileypermian.com.

Riley Exploration Permian (NYSE American: REPX) reported a strong performance for Q4 2022, achieving an average oil production of 10.0 MBbls/d, a 37% year-over-year increase. The company posted net income of $27 million ($1.37 per share) despite a 10% decrease in Adjusted EBITDAX to $46 million driven by lower commodity prices. For the full year, net income reached $118 million, reflecting a robust 31% increase in oil production. The company announced a $330 million acquisition of oil assets in New Mexico, with expectations for continued growth and operational efficiency. 2023 guidance anticipates oil production of 12.8 - 13.4 MBbls/d.

Riley Exploration Permian and Conduit Power have entered a joint venture to develop on-site power generation utilizing captured flared natural gas in Yoakum County, Texas. The project aims to enhance operational efficiency by providing 20 megawatts of power, with Phase 1 delivering 10 MW expected by June 2023 and Phase 2 slated for late 2023 or early 2024. The initiative is designed to improve the reliability of power, reduce operational costs, and lower carbon emissions from the flaring process. The partnership aims to create a resilient power source amid an increasingly volatile power grid.

Riley Exploration Permian, Inc. (NYSE American: REPX) has announced a definitive agreement to acquire oil and gas assets from Pecos Oil & Gas, LLC for $330 million. The transaction will be funded through borrowings and the issuance of $200 million in senior unsecured notes. The assets include 11,700 net acres in Eddy County, NM, with current production of 7.2 MBoe/d. This acquisition is expected to significantly boost the company's Adjusted EBITDAX by ~50% and Free Cash Flow by ~70% in 2023 while maintaining the current share count. The deal is set to close in early Q2 2023.

Riley Exploration Permian, Inc. (NYSE American: REPX) has announced the release of its fourth quarter and full year 2022 financial results on March 8, 2023, after U.S. market close. A conference call is scheduled for March 9, 2023, at 9:00 a.m. CT to discuss the results and answer investor questions. Participants can dial in using the provided toll-free and toll numbers. A presentation will be made available on the company's website prior to the call. A replay of the call will be accessible until March 23, 2023.

Riley Exploration Permian, Inc. (NYSE American: REPX) announced a cash dividend of $0.34 per share, payable on February 8, 2023, for stockholders of record by January 25, 2023. This dividend marks the 16th consecutive quarter of dividends distributed to shareholders. The company operates in the oil and natural gas sector, focusing on acquisition, exploration, development, and production.

Riley Exploration Permian (REPX) reported strong third-quarter 2022 results, achieving an average oil production of 9.4 MBbls per day, a 36% year-over-year increase. The company posted a net income of $60 million, with operating cash flow of $55 million and a 14% rise in Adjusted EBITDAX to $51 million. Due to improved performance, REPX raised its dividend by 10%. Challenges include rising operational costs and service availability. For Q4 2022, REPX forecasts oil production growth of 2.5% and total equivalent production of 12.6 to 13.2 MBoe per day.