Riley Exploration Permian Inc. - REPX STOCK NEWS

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.

Riley Exploration Permian recently announced an increase in its borrowing base from $200 million to $225 million through its senior secured revolving credit facility. Additionally, the company plans to release its third quarter 2022 financial and operational results on November 14, 2022, after market close. A conference call for discussing these results will take place on November 15, 2022, at 10:00 a.m. CT. Interested parties can participate via a toll-free number or by dialing in directly. Further details will be provided in a company presentation prior to the call.

Riley Exploration Permian (NYSE American: REPX) will engage in a fireside chat with Jeff Robertson of Water Tower Research on October 12, 11:00 AM ET. The discussion will highlight the company's business strategy, priorities, and opportunities in the oil and natural gas sector. Interested listeners can register for the live event and access the recording through a provided Registration Link.

Riley Exploration Permian has declared a cash dividend of $0.34 per share on its common stock. The dividend is set to be paid on November 7, 2022, to stockholders of record as of October 24, 2022. This announcement reflects the company’s growth-oriented strategy in the oil and gas sector, emphasizing its commitment to returning value to shareholders while focusing on acquisition, exploration, and production activities.

Riley Exploration Permian (REPX) reported a strong fiscal Q3 2022, with oil production averaging 8.4 MBbls/day, up 24% year-over-year. The company achieved a net income of $39 million, significantly outperforming previous quarters. Adjusted EBITDAX rose 29% sequentially to $45 million, driven by increased revenue from oil and natural gas sales totaling $88 million. Despite rising costs, the company raised its production guidance for FY 2022 by 4% while maintaining a solid dividend of $0.31/share. The outlook remains optimistic, with further capital expenditures planned for growth.