Riley Exploration Permian Inc. Stock Price, News & Analysis

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.

Riley Exploration Permian (NYSE American: REPX) declared a quarterly cash dividend of $0.31 per share, payable on February 9, 2022, to shareholders of record by January 26, 2022. This decision reflects the company's commitment to returning value to its investors as it continues its focus on the growth and development of oil and natural gas resources.

Riley Exploration Permian reported a net loss of $65.7 million for fiscal year 2021, despite generating $89.9 million of Adjusted EBITDAX and $26 million of Free Cash Flow. Total production increased by 22% to 3.15 MMBoe year-over-year. In Q4, production rose 35% to 9.6 MBoe per day, with a net income of $15.7 million. Dividends paid totaled $5.5 million, representing 21% of operating cash flow. Future guidance includes projected Q1 2022 oil production of 7.0 to 7.3 MBbls per day and a capital expenditure forecast of $26 to $32 million.

Riley Exploration Permian (NYSE American: REPX) is set to release its fiscal fourth quarter and full year 2021 financial results on December 13, 2021, after market close. Following this, a conference call for investors and analysts will take place on December 14, 2021, at 11:00 a.m. CT, where management will discuss the results and conduct a Q&A session. Interested parties can join via a toll-free number or internationally. An updated presentation will be available before the call. For more details, visit www.rileypermian.com.

Riley Exploration Permian (NYSE American: REPX) announced an increase in its borrowing base from $135 million to $175 million through an amendment to its senior secured revolving credit facility. This adjustment follows a semi-annual redetermination and reflects the company’s growth in proved reserves amid rising commodity prices. Chairman and CEO Bobby Riley expressed gratitude for lender support and the positive liquidity profile this increase provides, enhancing the company's capacity for development activities in the Permian Basin.

Riley Exploration Permian (REPX) announced updates regarding its enhanced oil recovery (EOR) pilot project and declared a cash dividend of $0.31 per share, payable on November 4, 2021. The agreements include a connection to the Cortez Pipeline and a CO2 purchase agreement with Kinder Morgan, facilitating the EOR project in Yoakum County, Texas. This initiative aims to enhance CO2 pipeline infrastructure access. The dividend reflects a 10% increase, showcasing the company's commitment to returning capital to shareholders.

Riley Exploration Permian (REPX) reported a net loss of $21.5 million for Q3 2021, despite a 35% increase in total net equivalent production year-over-year, reaching 9.1 MBoe/d. The company generated $58.8 million in cash flow from continuing operations in the first nine months of 2021, with total oil and gas sales of $100.6 million. EOR program development is underway, supported by a $47 million capital raise in July 2021. The latest cash dividend of $0.28 per share reflects a 5.8% yield. Forward guidance for Q4 2021 anticipates oil production averaging 6.6 to 7.2 MBbls per day.