Riley Exploration Permian (RPEX) Update - Nov 22
Posted: Mon Nov 22, 2021 8:00 pm
Comments below are from Keith Kohl at The Energy Investor
Riley Exploration Permian (RPEX) is an independent oil and natural gas company focused on the acquisition, exploration, development, and production of oil and natural gas resources in the Permian Basin.
Riley’s primary targets are found in the San Andres Formation, a shelf margin deposit on the Central Basin Platform and Northwest Shelf of the Permian Basin.
The company’s acreage is located on contiguous blocks in Yoakum County, Texas, as well as Lea, Roosevelt, and Chaves counties in New Mexico.
There hasn’t been much news out of Riley since the company announced its latest dividend last month. We did learn that the company successfully boosted its credit facility borrowing base by $40 million in mid-October and that there were a few insiders selling a small number of shares. However, our outlook remains strong as long as oil prices stay strong.
I hope to have more news for you on Riley’s operations soon.
Riley Exploration Permian (NYSE: REPX) is rated a BUY under $35
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RPEX closed at $19.19 today. First Call's price target is $48.00 per share. This might be a good replacement for GDP, but I need to spend more time on it.
Riley Exploration Permian (RPEX) is an independent oil and natural gas company focused on the acquisition, exploration, development, and production of oil and natural gas resources in the Permian Basin.
Riley’s primary targets are found in the San Andres Formation, a shelf margin deposit on the Central Basin Platform and Northwest Shelf of the Permian Basin.
The company’s acreage is located on contiguous blocks in Yoakum County, Texas, as well as Lea, Roosevelt, and Chaves counties in New Mexico.
There hasn’t been much news out of Riley since the company announced its latest dividend last month. We did learn that the company successfully boosted its credit facility borrowing base by $40 million in mid-October and that there were a few insiders selling a small number of shares. However, our outlook remains strong as long as oil prices stay strong.
I hope to have more news for you on Riley’s operations soon.
Riley Exploration Permian (NYSE: REPX) is rated a BUY under $35
--------------------------
RPEX closed at $19.19 today. First Call's price target is $48.00 per share. This might be a good replacement for GDP, but I need to spend more time on it.