Riley Exploration Permian Inc. Stock Price, News & Analysis

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%.

Riley Exploration Permian (NYSE American: REPX) plans to release its fiscal second-quarter 2022 financial and operating results on May 11, 2022, post-market close. Management will host a conference call on May 12, 2022, at 10:00 a.m. CT, to discuss the results and conduct a Q&A session. Participants can join by dialing 1 (888) 330-2214 (toll-free) or 1 (646) 960-0161 (toll). A replay will be available until May 26, 2022. The company is focused on oil and natural gas acquisition, exploration, and production.

Riley Exploration Permian, Inc. (NYSE American: REPX) has announced a cash dividend of $0.31 per share on its common stock. This dividend will be paid on May 5, 2022 to stockholders of record by the close of business on April 21, 2022. The declaration reflects the company's commitment to returning value to its shareholders while focusing on growth in oil and natural gas production.

On March 17, 2022, Riley Exploration Permian (NYSE American: REPX) announced a stock distribution of 400,000 shares made by Yorktown Energy Partners V to its partners after market close on March 16, 2022. Post-distribution, Yorktown V holds 215,784 shares (1.1% of total shares), while entities managed by Yorktown Partners own approximately 30% of Riley Permian. CEO Bobby D. Riley noted that the public float has increased to about 3.99 million shares, enhancing liquidity for investors.

Riley Exploration Permian (REPX) reported a strong fiscal first quarter for 2022, highlighting a 31% increase in production to 9.9 MBoe per day, with 73% from oil. The company achieved a net income of $21.4 million and generated $27.1 million in Adjusted EBITDAX. Operating cash flow was reported at $21.7 million, with capital expenditures totaling $20.7 million. The company declared dividends of $0.31 per share, amounting to $6.1 million. Positive developments include progress on their EOR project and upcoming capital spending guidance of $26-$32 million.

Riley Exploration Permian (NYSE American: REPX) announced the appointment of Rebecca L. Bayless to its Board of Directors, expanding the Board from five to six members, effective January 25, 2022. Bayless brings over 25 years of experience in the oil and gas sector, having held crucial financial roles in successful E&P companies. The Company plans to release its financial results for Q1 2022 on February 14, 2022, followed by a conference call on February 15, 2022, at 10:00 a.m. CT.