Riley Permian Announces New Share Repurchase Program
Riley Permian (NYSE American: REPX) announced a share repurchase program of up to $100 million of common stock to be executed over 24 months.
Sentiment and the balance of points
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Rhea-AI Summary
Riley Permian (NYSE American: REPX) announced a share repurchase program of up to $100 million of common stock to be executed over 24 months. The Board also authorized written trading plans under the Securities Exchange Act to facilitate repurchases.
The company said repurchases may occur in the open market, block trades or privately, will be opportunistic using available funds, and that repurchased shares will no longer be outstanding but may be available for future issuance.
Positive
- $100 million repurchase authorization over 24 months
- Adds buyback to existing quarterly dividend capital-return program
- Board authorized written trading plans to execute repurchases
Negative
- Repurchased shares may be reissued, enabling future shareholder dilution
Details
News Market Reaction – REPX
On Dec 17, the first trading day after this news, REPX closed 5.60% above the previous close.
Data tracked by StockTitan Argus for the Dec 17 session.
Key Figures
- Share repurchase authorization
- $100 million
- Maximum size of new buyback program
- Program duration
- 24 months
- Timeframe over which repurchases may occur
- Securities Exchange Act
- 1934
- Act governing written trading plans mentioned in the program
Historical Context
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Sale of Dovetail Midstream for cash to reduce borrowings and fund taxes.
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Q3 2025 results with cash flow, free cash flow, acquisition and dividend raise.
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Announced higher quarterly dividend and scheduled Q3 earnings call.
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Q2 2025 earnings with revenue, net income and Silverback acquisition details.
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Declared quarterly dividend and scheduled Q2 2025 earnings release and call.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
written trading plans financial
common stock financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Bobby Riley, Chairman and CEO for Riley Permian, commented, "We're excited to introduce a share repurchase program as another means of returning capital to shareholders in addition to our quarterly dividends. With the closing of Riley Permian's previously-announced midstream sale, we are well-positioned to pursue opportunities to unlock value and maximize shareholder returns. The share repurchase program highlights our confidence in continued excellent operational performance and financial strength."
The shares may be repurchased by the Company from time to time in open market transactions, through block trades, in privately negotiated transactions or by other means in accordance with federal securities laws. The timing, as well as the number and value of shares repurchased under the program, will be determined by the Company at its discretion and will depend on a variety of factors, including management's assessment of the intrinsic value of the Company's common stock, the market price of the Company's common stock, general market and economic conditions, available liquidity, compliance with the Company's debt and other agreements, applicable legal requirements, and other considerations.
The Company intends to purchase shares under the repurchase program opportunistically with available funds while maintaining sufficient liquidity to fund its capital development program. The repurchase program does not obligate Riley Permian to purchase stock, and may be suspended from time to time, modified, extended or discontinued by the Board of Directors at any time. Any stock purchased as part of this program will no longer be outstanding and will be available for future issuances by Riley Permian.
About Riley Exploration Permian, Inc.
Riley Permian is a growth-oriented upstream oil and gas company operating in
Forward-Looking Statements
This press release contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933, as amended (the "Securities Act"), and the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements other than statements of historical facts included or referenced in this press release regarding Riley Permian's dividend plans and practices, share repurchases, capital allocation, financial position, business strategy, plans and objectives for future operations, industry conditions, cash flow, and borrowings are forward-looking statements. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as "estimate," "project," "predict," "believe," "expect," "continue," "anticipate," "target," "could," "plan," "intend," "seek," "goal," "will," "should," "may" or other words and similar expressions that convey the uncertainty of future events or outcomes.
Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management's control, which could cause actual results to differ materially from those set forth in the forward-looking statements. An extensive list of factors that can affect future results are discussed in Riley Permian's Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. Riley Permian undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.
Investor Contact:
405-438-0126
IR@rileypermian.com
View original content:https://www.prnewswire.com/news-releases/riley-permian-announces-new-share-repurchase-program-302644009.html
SOURCE Riley Exploration Permian, Inc.
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