REXP earnings

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ChuckGeb
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Joined: Thu Nov 21, 2013 2:46 pm

REXP earnings

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Riley Permian Reports Fourth Quarter Results and Provides 2023 Guidance

March 8, 2023
OKLAHOMA CITY, March 8, 2023 /PRNewswire/ -- Riley Exploration Permian, Inc. (NYSE American: REPX) ("Riley Permian" or the "Company"), today reported financial and operating results for the fourth quarter and year ended December 31, 2022.

FOURTH QUARTER 2022 HIGHLIGHTS

Averaged oil production of 10.0 MBbls/d, exceeding the high end of guidance and representing an increase of 37% as compared year-over-year to the fourth quarter 2021
Reported net income of $27 million, or $1.37 per share, which includes $7 million of non-cash gain on derivative contracts and income from operations of $41 million
Generated $46 million of Adjusted EBITDAX(1) and $40 million of operating cash flow, representing a decrease of 10% and 28%, respectively, over the prior quarter, driven primarily by lower commodity pricing
Incurred total accrual (activity-based) capital expenditures before acquisitions of $27 million and total cash capital expenditures before acquisitions of $30 million
Paid dividends of $0.34 per share in the fourth quarter for a total of $7 million

More details in release
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