OKLAHOMA CITY, April 11, 2024 /PRNewswire/ -- Riley Exploration Permian, Inc. (NYSE American: REPX) ("Riley Permian" or the "Company") today announced that its Board of Directors has approved a cash dividend on the Company's common stock in the amount of $0.36 per share.
The dividend is payable on May 9, 2024 to stockholders of record as of the close of business on April 25, 2024.
Additionally, the Company plans to release financial and operating results for its first quarter on May 8, 2024 after the U.S. financial markets close.
In connection with the earnings release, Riley Permian management will host a conference call for investors and analysts on May 9, 2024 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) 330-2214
Toll Dial-In, 1 (646) 960-0161
Conference ID number 5405646
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 May 23, 2024 by calling:
Toll Free Dial-in, 1 (800) 770-2030
Toll Dial-in, 1 (609) 800-9909
Conference ID Number 5405646
Riley Exploration Permian (REPX) Update - Apr 12
Riley Exploration Permian (REPX) Update - Apr 12
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Riley Exploration Permian (REPX) Update - Apr 12
There are details on slide 6 of the April slide deck showing what the Company is building in Eddy County, New Mexico.
They expect to close the next bolt-on acquisition during May, 2024. It will be an all-cash deal funded by proceeds from the Company's recent equity offering. The assets being acquired are directly contiguous to the assets they acquired back in April, 2023.
In Eddy County, Riley is focused on shallow zones in the Yeso Trend. Assets being acquired:
> ~12,500 net acres with ~8,600 net acres in the Yeso Trend.
> 99% of the leasehold being acquired is Held By Production < making it more valuable.
> Current production of 1,100 Boepd with 400 bopd.
> "Running Room" of 20 to 25 horizontal development drilling locations. < Shallow Blinebry, Glorieta and Paddock formations only.
> Riley estimated the PV10 value of just the PDP reserves at $12 million when they negotiated the deal.
I have a call into Riley, and I hope to get some additional information today.
They expect to close the next bolt-on acquisition during May, 2024. It will be an all-cash deal funded by proceeds from the Company's recent equity offering. The assets being acquired are directly contiguous to the assets they acquired back in April, 2023.
In Eddy County, Riley is focused on shallow zones in the Yeso Trend. Assets being acquired:
> ~12,500 net acres with ~8,600 net acres in the Yeso Trend.
> 99% of the leasehold being acquired is Held By Production < making it more valuable.
> Current production of 1,100 Boepd with 400 bopd.
> "Running Room" of 20 to 25 horizontal development drilling locations. < Shallow Blinebry, Glorieta and Paddock formations only.
> Riley estimated the PV10 value of just the PDP reserves at $12 million when they negotiated the deal.
I have a call into Riley, and I hope to get some additional information today.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Riley Exploration Permian (REPX) Update - Apr 12
I've made some minor adjustments to my forecast/valuation model and reposted it to the EPG website.
My current valuation stays the same at $50/share.
TipRanks' EPS and operating cash flow for 2024 moved higher, probably due to adjustments made by Neal Dingmann. TipRanks' forecast is actually higher than my forecast. Their price target is $50.25/share.
My current valuation stays the same at $50/share.
TipRanks' EPS and operating cash flow for 2024 moved higher, probably due to adjustments made by Neal Dingmann. TipRanks' forecast is actually higher than my forecast. Their price target is $50.25/share.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group