Riley Permian Reports Second Quarter 2026 Results

Rhea-AI Summary

Riley Permian (NYSE American: REPX) reported second quarter 2026 net production of 34.3 MBoe/d (oil 21.2 MBbls/d), up from 24.4 MBoe/d a year earlier. Quarterly revenues were $166 million, operating income $87 million, net income $87 million or $4.11 per diluted share, and operating cash flow $64 million.

According to the company, non‑GAAP Adjusted EBITDAX was $80 million, cash flow from operations before working capital $75 million, and Total Free Cash Flow $6 million. Upstream cash capital expenditures were $68 million and total cash capital expenditures $68 million, with an additional $3 million invested in its RPC Power joint venture.

The company reported a $36 million realized loss on commodity derivative settlements and a $69 million non‑cash derivative fair value gain. Debt increased by $26 million to total principal debt of $273 million, implying a 1.0x debt‑to‑Adjusted EBITDAX ratio. Riley Permian repurchased 25 thousand shares for $1 million and paid a $0.40 per‑share dividend totaling $9 million.

Management revised full‑year 2026 guidance to higher oil production of 22.5–23.5 MBbls/d and total equivalent production of 37.5–38.5 MBoe/d, with total 2026 capital expenditures and investments of $239–$252 million. Third‑quarter 2026 guidance calls for oil production of 25.1–26.1 MBbls/d and total equivalent production of 40.5–41.5 MBoe/d, with $55–$67 million in total investments.

Positive

• Revenue $165.9m, up from $85.4m in Q2 2025
• Net income $87.2m vs $28.8m in Q2 2025
• Production 34.3 MBoe/d, up from 24.4 MBoe/d year earlier
• Oil price $94.28/Bbl before derivatives, significantly above 2025 levels
• Debt-to-Adjusted EBITDAX 1.0x at June 30, 2026
• 2026 oil guidance raised, implying about 30% YoY growth according to the company

Negative

• Realized natural gas price −$4.12/Mcf before GP&T costs
• Realized NGL price −$4.71/Bbl before GP&T costs
• Midstream constraints cut Q2 oil by an estimated 1.9 MBbls/d
• Total debt $273m, up $26m during the quarter
• Total cash capex $68m vs Total Free Cash Flow of $6.3m
• Workover expense $11m within $29m lease operating expense

News Explained

At June 30, cash of $20,686 thousand was reported alongside $273 million of principal debt, defining the disclosed liquidity and financing position.

Riley Permian has reported its completed second-quarter 2026 results; temporary gas-processing and takeaway constraints led to well shut-ins that reduced second-quarter production by approximately 1.9 MBbls/d.

The company expects its Targa pipeline system to enter service in Q4 2026, the named milestone for addressing those constraints.

As of June 30, 2026, the balance sheet showed $20,686 thousand of cash against $273 million of principal debt, placing liquidity and financing obligations in the same disclosed balance-sheet picture.

Market Context

Net Selling was recorded in the insider context, with 46,000 shares sold and 0 bought. That platform...

Analysis

Net Selling was recorded in the insider context, with 46,000 shares sold and 0 bought. That platform signal adds context to the Q2 earnings release; low short positioning remains a sourced risk factor to monitor.

Key Figures

Total Equivalent Production: 34.3 MBoe/d Oil Production: 21.2 MBbls/d Revenue: $166 million +5 more

8 metrics

Total Equivalent Production 34.3 MBoe/d Second quarter 2026

Oil Production 21.2 MBbls/d Second quarter 2026

Revenue $166 million Second quarter 2026

Net Income $87 million, or $4.11 per diluted share Second quarter 2026

Adjusted EBITDAX $80 million Second quarter 2026

Total Free Cash Flow $6 million Second quarter 2026

Debt Increase $26 million Second quarter 2026

Full-Year Oil Production Growth Approximately 30% year-over-year growth 2026 guidance

Previous Earnings Reports

5 past events · Latest: May 06 (Positive)

Same Type Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
May 06	Quarterly earnings	Positive	+2.4%	Q1 results included higher production, positive free cash flow, and a 1.0x debt leverage ratio.
Nov 05	Quarterly earnings	Positive	-3.2%	Results included an acquisition, higher dividend, and increased full-year oil production guidance.
Aug 06	Quarterly earnings	Positive	+1.6%	Results included $85 million revenue, $30 million net income, and the Silverback acquisition.
Nov 06	Quarterly earnings	Positive	+6.4%	Results included $37.8 million free cash flow and $35.0 million debt reduction.
Aug 07	Quarterly earnings	Positive	+3.6%	Results included $105.4 million revenue, $38.3 million free cash flow, and debt reduction.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Among the five prior earnings events, four had positive 24-hour reactions and one had a negative reaction.

Key Terms

mboe/d, adjusted ebitdax, non-gaap, derivative settlements

4 terms

mboe/d technical

"Reported 34.3 MBoe/d of total equivalent production"

Mboe/d stands for "million barrels of oil equivalent per day." It measures how much energy from oil and other sources a company produces or consumes each day, kind of like counting how many large bottles of energy drink you could fill in a day. This helps everyone understand how big or active an energy company is.

adjusted ebitdax financial

"Generated $87 million of net income and $80 million of Adjusted EBITDAX"

Adjusted EBITDAX is a measure of a company’s operating profit that adds back interest, taxes, depreciation, amortization and specific recurring costs (often exploration or similar project expenses), then removes one‑time or unusual items to show recurring cash profitability. Investors use it like a clean yardstick—ignoring financing choices, accounting rules and one‑off events—to compare core performance across periods or peers and assess a business’s ability to generate cash from operations.

non-gaap financial

"On a non-GAAP basis, Adjusted EBITDAX(1) was $80 million"

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

View in glossary

derivative settlements financial

"a $36 million realized loss on derivative settlements"

A derivative settlement is the process of completing a financial contract whose value is tied to another asset (like a stock, bond, commodity or index) by paying or delivering what’s owed when the contract ends or a trigger occurs. Think of it like settling a bet after a game: one side pays the agreed difference in cash or delivers the underlying item. For investors it determines actual cash flows, timing of gains or losses, and exposure to the other party’s ability to pay, which affects portfolio risk and liquidity.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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OKLAHOMA CITY, Aug. 5, 2026 /PRNewswire/ -- Riley Exploration Permian, Inc. (NYSE American: REPX) ("Riley Permian" or the "Company"), today reported financial and operating results for the second quarter ended June 30, 2026.

SECOND QUARTER 2026 HIGHLIGHTS

• Reported 34.3 MBoe/d of total equivalent production (oil production of 21.2 MBbls/d)

• Generated $64 million of operating cash flow or $75 million before changes in working capital⁽¹⁾ and $6 million of Total Free Cash Flow⁽¹⁾

• Incurred total accrual (activity-based) capital expenditures before acquisitions of $87 million and cash capital expenditures before acquisitions of $68 million

• Generated $87 million of net income and $80 million of Adjusted EBITDAX⁽¹⁾

• Increased debt by $26 million with a quarter-end debt-to-Adjusted EBITDAX⁽¹⁾ ratio of 1.0x⁽²⁾

• Revised full-year 2026 guidance to reflect higher forecasted oil production and total capital expenditures and investments

Bobby Riley, Chief Executive Officer and Chairman of the Board commented, "We continued executing the growth strategy we outlined earlier this year during the second quarter, delivering oil production near the high end of guidance and building momentum for the quarters ahead. We are increasing full-year oil production guidance, which now implies approximately 30% year-over-year growth in 2026. Our outlook calls for the largest production increase of the year in the third quarter, with oil production expected to grow more than 20% sequentially. We are encouraged by the progress made to date and believe the activity underway positions us for meaningful production growth through the remainder of 2026 and into 2027."

OPERATIONS AND DEVELOPMENT ACTIVITY UPDATE

The tables below provide a summary of our operated well activity and production by state:

		Three Months Ended June 30, 2026				Six Months Ended June 30, 2026
		Gross(1)		Net(2)		Gross(1)		Net(2)
Wells Drilled
Texas		12		11.9		25		24.4
New Mexico		12		8.0		16		11.1
Total		24		19.9		41		35.5
Wells Completed
Texas		18		17.3		31		30.1
New Mexico		—		—		—		—
Total		18		17.3		31		30.1
Wells Turned to Sales
Texas		15		13.9		23		21.9
New Mexico		—		—		—		—
Total		15		13.9		23		21.9

___________________

(1)  Gross wells are the total number of operated wells in which the Company has an interest

(2)  Net wells are gross wells multiplied by our fractional working interest

Average Daily Production by State

		Three Months Ended June 30,				Six Months Ended June 30,
		2026		2025		2026		2025
Total Equivalent Production (MBoe/d)
Texas		24.0		16.5		22.3		16.8
New Mexico		10.3		7.9		12.6		7.6
Total		34.3		24.4		34.9		24.4
Oil Production (MBbls/d)
Texas		15.8		11.1		14.3		11.6
New Mexico		5.4		4.1		6.4		3.8
Total		21.2		15.2		20.7		15.4

SECOND QUARTER 2026 FINANCIAL RESULTS

Revenues totaled $166 million, operating income was $87 million, operating cash flow was $64 million and net income was $87 million, or $4.11 per diluted share.

On a non-GAAP basis, Adjusted EBITDAX⁽¹⁾ was $80 million, cash flow from operations before changes in working capital⁽¹⁾ was $75 million, Total Free Cash Flow⁽¹⁾ was $6 million and Adjusted Net Income⁽¹⁾ was $33 million, or $1.54 per diluted share.

Average realized prices, before derivative settlements, were $94.28 per barrel of oil, $(4.12) per Mcf of natural gas and $(4.71) per barrel of natural gas liquids ("NGL").

Realized natural gas prices were negative before gathering, processing and transportation costs ("GP&T costs") due to Waha pricing being negatively impacted from ongoing regional pipeline constraints. Realized NGL prices before GP&T costs increased primarily due to higher Mont Belvieu pricing during the quarter. The pricing benefit to NGL sales were more than offset by higher allocated GP&T costs from negative realized natural gas prices.

Certain portions of our New Mexico operations were impacted during April and May of the second quarter of 2026 by ongoing gas processing and midstream constraints following an unplanned outage at a third-party facility beginning in late March. The disruptions resulted in periodic processing limitations, reduced gas takeaway capacity, and temporary well shut-ins, reducing production from affected areas. We estimate the temporary shut-ins reduced second quarter production by approximately 1.9 MBbls/d. June oil production was 24.4 MBbls/d.

In December of 2025, we contracted with Targa Northern Delaware LLC ("Targa") to construct new gathering and high-pressure trunkline infrastructure in Eddy County, New Mexico pursuant to the A&R Gas Purchase Agreement, to mitigate processing and takeaway constraints of the nature experienced during the second quarter. The in-service date of the new Targa pipeline system is currently expected to occur in the fourth quarter of 2026.

The Company reported a $36 million realized loss on derivative settlements, reflecting cash settlements on financial contracts linked to crude oil prices, and a $69 million non-cash gain due to the changes in the fair value of derivatives that will settle in future periods for a combined $33 million net gain on derivatives. Unrealized derivatives reflect the accounting remeasurement of the Company's derivative portfolio based on changes in the market value of contracts that remain open and do not represent current-period cash inflows or outflows.

Operating expenses included lease operating expense of $29 million, or $9.44 per Boe, which included $11 million in workover expense. The Company executed a large number of workover projects during the quarter in an effort to capitalize on high oil prices as well as to supplement volumes operationally disrupted. Administrative costs were $9 million, or $2.80 per Boe and production and ad valorem taxes were $11 million or $3.67 per Boe.

The Company incurred $87 million in total accrued capital expenditures. On a cash basis, the Company had total capital expenditures of $68 million. The Company invested $3 million in its power-focused joint venture, RPC Power.

The Company increased total debt by $26 million, including a $31 million increase on the Credit Facility and $5 million reduction on the Senior Notes. As of June 30, 2026, the Company had $138 million of borrowings outstanding on its Credit Facility and $135 million principal value of its Senior Notes, for a combined principal value of debt of $273 million. Interest expense, net was $7 million.

As part of our stock repurchase program, the Company repurchased 25 thousand shares of common stock at a weighted average price of $34.13 per share for a total of $1 million. The diluted weighted average shares outstanding during the quarter was 21.3 million.

The Company paid a cash dividend of $0.40 per share, for a total of $9 million.

___________________
(1)	A non-GAAP financial measure as defined and reconciled in the supplemental financial tables available on the Company's website at www.rileypermian.com.
(2)	Debt leverage based on principal debt outstanding as of June 30, 2026, divided by Last Twelve Months Adjusted EBITDAX(1).

Selected Operating and Financial Data
(Unaudited)
		Three Months Ended						Six Months Ended
		June 30, 2026		March 31, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Selected Financial Data (in thousands):
Oil and natural gas sales, net		$    165,850		$    113,881		$      85,394		$    279,731		$    187,851
Income from operations		$      87,232		$      43,670		$      28,754		$    130,902		$      78,256
Adjusted EBITDAX(1)		$      80,107		$      60,933		$      59,340		$    141,040		$    130,473
Cash flow from operations		$      63,500		$      47,176		$      33,640		$    110,676		$      84,021
Upstream accrual capital expenditures		$      86,599		$      47,087		$      22,022		$    133,686		$      41,452
Upstream cash capital expenditures		$      67,931		$      30,130		$      25,300		$      98,061		$      41,574
Total accrual capital expenditures		$      86,599		$      47,087		$      27,786		$    133,686		$      51,786
Total cash capital expenditures		$      68,287		$      31,184		$      28,715		$      99,471		$      47,868
Upstream Free Cash Flow(1)		$       6,613		$      24,554		$      21,250		$      31,167		$      60,557
Total Free Cash Flow(1)		$       6,257		$      23,500		$      17,835		$      29,757		$      54,263
Production Data, net:
Oil (MBbls)		1,933		1,814		1,382		3,747		2,788
Natural gas (MMcf)		3,241		3,781		2,213		7,022		4,441
NGLs (MBbls)		645		760		465		1,405		887
Total equivalent (MBoe)		3,118		3,204		2,216		6,322		4,415
Daily equivalent production (Boe/d)		34,264		35,600		24,352		34,928		24,392
Daily oil production (Bbls/d)		21,242		20,156		15,187		20,702		15,403
Average Realized Prices:(2)
Oil ($ per Bbl)		$       94.28		$       68.89		$       62.17		$       81.99		$       66.18
Natural gas ($ per Mcf)		$       (4.12)		$       (1.68)		$        (0.39)		$       (2.81)		$         0.16
NGLs ($ per Bbl)		$       (4.71)		$       (6.22)		$         0.75		$       (5.53)		$         2.96
Average Realized Prices, including the effects of derivative settlements:(2)(3)
Oil ($ per Bbl)		$       74.25		$       62.40		$       66.10		$       68.51		$       68.55
Natural gas ($ per Mcf)		$       (3.33)		$       (1.67)		$        (0.52)		$       (2.44)		$         0.08
NGLs ($ per Bbl)(4)		$       (4.71)		$       (6.22)		$         0.75		$       (5.53)		$         2.96
Weighted Average Common Shares Outstanding (in thousands):
Basic		20,937		20,869		21,141		20,903		21,126
Diluted		21,255		20,869		21,158		21,138		21,135

___________________
(1)	A non-GAAP financial measure as defined and reconciled in the supplemental financial tables available on the Company's website at www.rileypermian.com.
(2)	The Company's oil, natural gas and NGL sales are presented net of gathering, processing and transportation costs. These costs, related to natural gas and NGLs, at times exceeded the price received and resulted in negative average realized prices.
(3)	The Company's calculation of the effects of derivative settlements includes gains (losses) on the settlement of our commodity derivative contracts. These realized gains (losses), along with unrealized gains (losses) from changes in the fair value of derivatives, are included under other income (expense) on the Company's condensed consolidated statements of operations.
(4)	During the periods presented, the Company did not have any NGL derivative contracts in place.

2026 GUIDANCE

Riley Permian is providing third quarter detailed guidance and updated full-year 2026 activity guidance based on currently scheduled development activity and current market conditions. The average working interest on gross operated wells drilled is subject to change and may have corresponding impacts on net production volumes and investing expenditures.

Activity and Production		Q3 2026		Full-Year 2026
Net Operated Well Activity
Drilled (#)		4.9 - 6.9		51.6 - 53.6
Completed (#)		8.2 - 10.2		41.1 - 43.1
Turned to Sales (#)		15.2 - 17.2		42.8 - 44.8
Non-Operated, Net (#)		1.9 - 2.9		1.9 - 2.9
Net Production
Oil (MBbls/d)		25.1 - 26.1		22.5 - 23.5
Total Equivalent (MBoe/d)		40.5 - 41.5		37.5 - 38.5
Capital Expenditures and Investments (in millions)(1)
Upstream		$46 - $52		$189 - $195
Infrastructure and Other		$7 - $13		$41 - $47
Total Capital Expenditures		$53 - $65		$230 - $242
Power JV Investment		$2		$9 - $10
Total Investments		$55 - $67		$239 - $252

Operating and Corporate Costs		Q3 2026
Lease Operating Expenses ($ per Boe)		$8.50 - $9.50
Production and Ad Valorem Taxes (% of Revenue)		7.5% - 8.5%
Administrative Costs ($ per Boe)		$2.25 - $2.75

___________________

(1)  Accrual (activity-based) investing expenditures before acquisitions

CONFERENCE CALL
In connection with the earnings release, Riley Permian management will host a conference call for investors and analysts on August 6, 2026 at 9:00 a.m. CT to discuss the Company's results and to host a Q&A session. Interested parties are invited to participate by calling:

• Toll Free Dial-In, +1 (888) 596-4144
• Toll Dial-in, +1 (646) 968-2525
• Conference ID number 1303008

An updated company presentation, which will include certain items to be discussed on the call, will be posted prior to the call on the Company's website (www.rileypermian.com).

A replay of the call will be available until August 20, 2026 by calling:

• Toll Free Dial-In, +1 (800) 770-2030
• Toll Dial-in, +1 (609) 800-9909
• Conference ID number 1303008

About Riley Exploration Permian, Inc.
Riley Permian is a growth-oriented upstream oil and gas company operating in Texas and New Mexico with infrastructure projects that complement our operations. For more information, please visit www.rileypermian.com. 

Investor Contact:
Ben McQueen
405-438-0126
IR@rileypermian.com

Cautionary Statement Regarding Forward Looking Information and Guidance
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The statements contained in this release that are not historical facts are forward-looking statements that represent management's beliefs and assumptions based on currently available information. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies, need for financing, competitive position and potential growth opportunities. Our forward-looking statements do not consider the effects of future legislation or regulations. Forward-looking statements include all statements that are not historical facts and can be identified by the use of forward-looking terminology such as the words "believes," "intends," "may," "should," "anticipates," "expects," "could," "plans," "estimates," "projects," "targets," "forecasts" or comparable terminology or by discussions of strategy or trends. You should not place undue reliance on these forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties and assumptions. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements we make in this release are reasonable, we can give no assurance that these plans, intentions or expectations will be achieved or occur, and actual results could differ materially and adversely from those anticipated or implied by the forward-looking statements.

Among the factors that could cause actual future results to differ materially are the risks and uncertainties the Company is exposed to. While it is not possible to identify all factors, we continue to face many risks and uncertainties including, but not limited to: the volatility of oil, natural gas and NGL prices, including basis differentials between published indices and the prices we actually receive for our production; regional supply and demand factors, any delays, curtailment delays or interruptions of production, and any governmental order, rule or regulation that may impose production limits; cost and availability of gathering, pipeline, refining, transportation, power and other midstream and downstream activities, which could result in a prolonged shut-in of our wells that may adversely affect our reserves, financial condition and results of operations; severe weather and other risks that lead to a lack of any available markets; our ability to successfully complete mergers, acquisitions or divestitures; the inability or failure of the Company to successfully integrate the acquired assets into our operations and development activities; the potential delays in the development, construction or start-up of planned projects; failure to realize any of the anticipated benefits of our joint ventures or other equity investments; risks relating to our operations, including development drilling and testing results and performance of acquired properties and newly drilled wells; inability to prove up undeveloped acreage and maintain production on leases; any reduction in our borrowing base on our Credit Facility from time to time and our ability to repay any excess borrowings as a result of such reduction; the impact of our derivative strategy and the results of future settlement; our ability to comply with the financial covenants contained in our Credit Facility and Senior Notes; changes in general economic, business or industry conditions, including changes in inflation rates, interest rates and foreign currency exchange rates; conditions in the capital, financial and credit markets and our ability to obtain capital needed to fund our exploration and development on favorable terms or at all; the loss of certain tax deductions; risks associated with executing our business strategy, including any changes in our strategy; risks associated with concentration of operations in one major geographic area; legislative or regulatory changes, including initiatives related to hydraulic fracturing, regulation of greenhouse gases, water conservation, seismic activity, weatherization, or protection of certain species of wildlife, or of sensitive environmental areas; the ability to receive drilling and other permits or approvals and rights-of-way in a timely manner (or at all), which may be restricted by governmental regulation and legislation; restrictions on the use of water, including limits on the use of produced water and any potential moratorium on new produced water well permits recently imposed by the Railroad Commission of Texas or New Mexico Oil Conservation Division in an effort to control induced seismicity in the Permian Basin; changes in government environmental policies and other environmental risks; the availability of drilling equipment and the timing of production; tax consequences of business transactions; public health crisis, such as pandemics and epidemics, and any related government policies and actions and the effects of such public health crises on the oil and natural gas industry, pricing and demand for oil and natural gas and supply chain logistics; general domestic and international economic, market and political conditions, including military conflicts, global economic growth, unpredictability of new tariffs, actions of OPEC+ countries and changes to the current political environment under the current administration; risks related to litigation; and cybersecurity threats, technology system failures and data security issues.

The estimates and guidance presented in this release are based on assumptions of current and future capital expenditure levels, prices for oil, natural gas and NGLs, available liquidity, indications of supply and demand for oil, well results, operating costs and the timing and completion of pending projects and acquisitions. The guidance provided in this release does not constitute any form of guarantee or assurance that the matters indicated will be achieved. While we believe these estimates and the assumptions on which they are based are reasonable as of the date on which they are made, they are inherently uncertain and are subject to, among other things, significant business, economic, operational, and regulatory risks, and uncertainties, some of which are not known as of the date of the statement. Guidance and estimates, and the assumptions on which they are based, are subject to material revision. Actual results may differ materially from estimates and guidance.

Please read the "Risk Factors" in our annual report on Form 10-K and our quarterly reports on Form 10-Q, which are incorporated herein. Additional factors that could cause results to differ materially from those described above can be found in Riley Permian's Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC and available from the Company's website at www.rileypermian.com under the "Investor" tab, and in other documents the Company files with the SEC.

The forward-looking statements in this press release are made as of the date hereof and are based on information available at that time. The Company does not undertake, and expressly disclaims, any duty to update or revise our forward-looking statements based on new information, future events or otherwise.

RILEY EXPLORATION PERMIAN, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
		(Unaudited)
		June 30, 2026		December 31, 2025
		(In thousands, except share amounts)
Assets
Current Assets:
Cash		$           20,686		$           17,889
Accounts receivable, net		69,169		41,045
Prepaid expenses		5,428		7,763
Inventory		9,029		7,929
Current derivative assets		10		19,141
Total Current Assets		104,322		93,767
Oil and natural gas properties, net (successful efforts)		1,082,809		995,539
Other property and equipment, net		23,205		21,872
Non-current derivative assets		3,213		5,117
Equity method investment		42,365		36,188
Funds held in escrow		1,196		1,196
Other non-current assets, net		13,381		15,899
Total Assets		$       1,270,491		$       1,169,578
Liabilities and Shareholders' Equity
Current Liabilities:
Accounts payable		$           33,189		$             5,083
Accrued liabilities		54,531		37,690
Revenue payable		77,854		59,606
Current derivative liabilities		22,106		37
Current portion of long-term debt		20,000		20,000
Other current liabilities		24,299		34,089
Total Current Liabilities		231,979		156,505
Non-current derivative liabilities		2,858		112
Asset retirement obligations		59,642		59,977
Long-term debt		247,495		227,855
Deferred tax liabilities		91,044		86,119
Other non-current liabilities		4,119		4,768
Total Liabilities		637,137		535,336
Commitments and Contingencies
Shareholders' Equity:
Preferred stock, $0.0001 par value, 25,000,000 shares authorized; 0 shares issued		—		—
Common stock, $0.001 par value, 240,000,000 shares authorized; 22,173,260 and 21,718,800 shares issued at June 30, 2026 and December 31, 2025, respectively		22		22
Additional paid-in capital		306,106		306,660
Retained earnings		327,226		327,560
Total Shareholders' Equity		633,354		634,242
Total Liabilities and Shareholders' Equity		$       1,270,491		$       1,169,578

 

RILEY EXPLORATION PERMIAN, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
		Three Months Ended June 30,				Six Months Ended June 30,
		2026		2025		2026		2025
		(In thousands, except per share amounts)
Revenues:
Oil and natural gas sales, net		$      165,850		$       85,394		$      279,731		$      187,851
Total Revenues		165,850		85,394		279,731		187,851
Costs and Expenses:
Lease operating expenses		29,433		18,880		53,504		37,211
Production and ad valorem taxes		11,430		6,126		20,462		12,796
Exploration costs		466		47		1,433		56
Depletion, depreciation, amortization and accretion		24,651		19,563		50,371		38,701
Impairment of oil and natural gas properties		—		1,214		—		1,214
General and administrative:
Administrative costs		8,720		6,199		16,840		13,637
Stock-based compensation expense		3,918		2,685		6,219		4,054
Transaction costs		—		1,926		—		1,926
Total Costs and Expenses		78,618		56,640		148,829		109,595
Income from Operations		87,232		28,754		130,902		78,256
Other Income (Expense):
Interest expense, net		(6,770)		(7,171)		(13,127)		(13,832)
Gain (loss) on derivatives, net		33,235		18,720		(93,735)		12,870
Income (loss) from equity method investment		45		(129)		(323)		(248)
Gain (loss) on acquisitions and divestitures, net		961		—		(1,736)		—
Total Other Income (Expense)		27,471		11,420		(108,921)		(1,210)
Net Income from Operations before Income Taxes		114,703		40,174		21,981		77,046
Income tax expense		(27,333)		(9,704)		(5,045)		(17,943)
Net Income		$       87,370		$       30,470		$       16,936		$       59,103
Net Income per Share:
Basic		$          4.17		$          1.44		$          0.81		$          2.80
Diluted		$          4.11		$          1.44		$          0.80		$          2.80
Weighted Average Common Shares Outstanding:
Basic		20,937		21,141		20,903		21,126
Diluted		21,255		21,158		21,138		21,135

 

RILEY EXPLORATION PERMIAN, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
		Three Months Ended June 30,				Six Months Ended June 30,
		2026		2025		2026		2025
		(In thousands)
Cash Flows from Operating Activities:
Net income		$       87,370		$       30,470		$       16,936		$       59,103
Adjustments to reconcile net income to net cash provided by operating activities:
Exploratory well costs and lease expirations		466		1		1,379		10
Depletion, depreciation, amortization and accretion		24,651		19,563		50,371		38,701
Impairment of oil and natural gas properties		—		1,214		—		1,214
(Gain) loss on derivatives, net		(33,235)		(18,720)		93,735		(12,870)
Settlements on derivative contracts		(36,160)		5,151		(47,885)		6,266
Amortization of deferred financing costs and discount		1,185		1,191		2,367		2,373
Stock-based compensation expense		3,918		2,685		6,219		4,054
Deferred income tax expense		28,233		4,866		4,925		3,040
(Income) loss from equity method investment		(45)		129		323		248
(Gain) loss on acquisitions and divestitures, net		(1,839)		—		858		—
Other		—		—		—		(8)
Changes in operating assets and liabilities		(11,044)		(12,910)		(18,552)	—	(18,110)
Net Cash Provided by Operating Activities		63,500		33,640		110,676		84,021
Cash Flows from Investing Activities:
Additions to oil and natural gas properties		(67,294)		(24,788)		(96,864)		(40,938)
Additions to midstream property and equipment		(356)		(3,415)		(1,410)		(6,294)
Additions to other property and equipment		(637)		(512)		(1,197)		(636)
Acquisitions of oil and natural gas properties		(2,649)		(2,138)		(4,824)		(2,138)
Acquisitions of land		(4)		—		(548)		—
Proceeds from divestitures		599		—		8,206		—
Contributions to equity method investment		(2,500)		—		(6,500)		(6,250)
Distributions from equity method investment		—		—		1,487		—
Funds held in escrow		—		(14,201)		—		(14,201)
Net Cash Used in Investing Activities		(72,841)		(45,054)		(101,650)		(70,457)
Cash Flows from Financing Activities:
Deferred financing costs		(82)		(24)		(108)		(164)
Proceeds from credit facility		69,000		30,000		77,000		30,000
Repayments under credit facility		(38,000)		—		(49,000)		(16,000)
Repayments of senior notes		(5,000)		(5,000)		(10,000)		(10,000)
Payment of earnout liability		(310)		—		(310)		—
Payment of cash dividends		(8,678)		(8,088)		(17,038)		(16,121)
Repurchase of common shares		(854)		—		(4,902)		—
Repurchase of common shares for tax withholding and other		(1,858)		(305)		(1,871)		(377)
Net Cash (Used in) Provided by Financing Activities		14,218		16,583		(6,229)		(12,662)
Net Increase in Cash		4,877		5,169		2,797		902
Cash, Beginning of Period		15,809		8,857		17,889		13,124
Cash, End of Period		$       20,686		$       14,026		$       20,686		$       14,026

DERIVATIVE INSTRUMENTS

The Company's oil and natural gas derivative contracts consisted of fixed price swaps, costless collars and basis swaps. The following table summarizes the open financial derivatives as of August 3, 2026, related to our future oil and natural gas production:

		2026 (1)				2027								2028
		Third Quarter		Fourth Quarter		First Quarter		Second Quarter		Third Quarter		Fourth Quarter		First Quarter		Second Quarter
Oil
WTI Oil Swaps
Volume (Bbl)		860,000		820,000		725,000		650,000		630,000		605,000		330,000
Weighted average price ($/Bbl)		$    61.65		$    61.42		$    61.48		$    61.68		$    61.38		$    61.62		$    70.18
WTI Oil Collars
Volume (Bbl)		570,000		550,000		475,000		537,000		490,000		315,000		270,000		90,000
Weighted average floor price ($/Bbl)		$    58.25		$    57.75		$    57.15		$    55.84		$    54.22		$    57.38		$    56.67		$    60.00
Weighted average ceiling price ($/Bbl)		$    72.66		$    69.59		$    66.42		$    67.97		$    69.43		$    72.26		$    75.77		$    80.65
Natural Gas
Henry Hub Natural Gas Swaps
Volume (MMBtu)		300,000		500,000		600,000
Weighted average price ($/MMBtu)		$     3.59		$     4.07		$     4.19
Henry Hub Natural Gas Collars
Volume (MMBtu)		900,000		600,000		450,000
Weighted average floor price ($/MMBtu)		$     3.05		$     3.43		$     3.80
Weighted average ceiling price ($/MMBtu)		$     3.74		$     4.79		$     5.84
Waha Basis Swaps
Volume (MMBtu)		1,250,000		3,450,000		3,150,000		3,150,000		3,150,000		3,150,000		1,800,000
Weighted average price ($/MMBtu)		$    (1.65)		$    (1.58)		$    (0.94)		$    (0.95)		$    (0.95)		$    (0.95)		$    (1.01)

___________________

(1)  Q3 2026 derivative positions shown include 2026 contracts, some of which have settled as of August 3, 2026.

Interest Rate Contracts

The following table summarizes the open interest rate derivative positions as of August 3, 2026:

Open Coverage Period		Position		Notional Amount		Fixed Rate
				(In thousands)
August 2026 - April 2027		Long		$              45,000		3.90 %

View original content:https://www.prnewswire.com/news-releases/riley-permian-reports-second-quarter-2026-results-302844189.html

SOURCE Riley Exploration Permian, Inc.

FAQ

How did Riley Permian (REPX) perform financially in Q2 2026?

Riley Permian reported Q2 2026 revenues of $165.9 million and net income of $87.2 million, or $4.11 per diluted share. According to the company, Adjusted EBITDAX was $80.1 million and operating cash flow was $63.5 million, reflecting stronger prices and higher production.

What were Riley Permian’s production levels in Q2 2026 compared with Q2 2025?

Riley Permian produced 34.3 MBoe/d in Q2 2026 versus 24.4 MBoe/d in Q2 2025, with oil at 21.2 MBbls/d versus 15.2 MBbls/d. According to the company, Texas and New Mexico both contributed to this year‑over‑year production growth.

What guidance did Riley Permian (REPX) give for Q3 2026 production?

For Q3 2026, Riley Permian guided to oil production of 25.1–26.1 MBbls/d and total equivalent production of 40.5–41.5 MBoe/d. According to the company, this reflects its scheduled operated well activity and current market conditions.

What is Riley Permian’s full-year 2026 capital expenditure and investment outlook?

Riley Permian expects 2026 total capital expenditures of $230–$242 million and total investments of $239–$252 million. According to the company, this includes $189–$195 million of upstream spending and $41–$47 million on infrastructure and other projects, plus power joint venture funding.

How did derivatives affect Riley Permian’s Q2 2026 results?

Riley Permian recorded a $36 million realized loss on derivative settlements and a $69 million non‑cash gain from fair value changes, for a net $33 million gain. According to the company, unrealized derivative gains and losses do not represent current‑period cash flows.

What dividends and share repurchases did Riley Permian (REPX) make in Q2 2026?

Riley Permian paid a Q2 2026 cash dividend of $0.40 per share, totaling $9 million, and repurchased 25 thousand shares for $1 million. According to the company, diluted weighted average shares outstanding were 21.3 million during the quarter.

How were Riley Permian’s realized oil, gas and NGL prices in Q2 2026?

In Q2 2026, Riley Permian realized $94.28/Bbl for oil, −$4.12/Mcf for natural gas, and −$4.71/Bbl for NGLs before derivative effects. According to the company, negative gas and NGL prices reflected regional pipeline constraints and allocated gathering, processing, and transportation costs.