Riley Exploration Permian Inc. Stock Price, News & Analysis

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.

Riley Exploration Permian, Inc. (NYSE American: REPX) plans to release its fiscal third quarter 2022 financial results on August 10, 2022, after U.S. market close. A conference call for investors will follow on August 11, 2022, at 10:00 a.m. CT, where management will discuss the results and answer questions. Interested participants can join via toll-free and toll dial-in numbers. A presentation detailing the call topics will be available on the company's website. A replay will be accessible until August 25, 2022.

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%.