EPS Consensus was $1.70; Adjusted came in at $1.58 a share. Dividend was increased 6%.
THIRD QUARTER 2023 HIGHLIGHTS
Averaged oil production of 14.0 MBbls/d (19.9 MBoe/d total equivalent production)
Generated $53 million of operating cash flow or $63 million of operating cash flow before changes in working capital
Incurred total accrual (activity-based) and cash capital expenditures before acquisitions of $30 million and $31 million, respectively
Generated Free Cash Flow(1) of $31 million
Paid dividends of $0.34 per share in the third quarter for a total of $7 million; subsequent to the third quarter, raised dividends by 6% to $0.36, which will be payable in the fourth quarter 2023
Reduced debt outstanding by $10 million
Bobby Riley, Chairman and CEO of Riley Permian, stated, "We are pleased with our performance in the third quarter, even though production was reduced due to disruptions to midstream infrastructure operated by third parties. We continue to focus on strategic growth, operational efficiency, and returning capital to shareholders while reducing the debt we incurred to acquire the New Mexico assets in the spring."
REPX 3rd Qtr Results
Re: REPX 3rd Qtr Results
Wow. What a drubbing. I picked up a few more shares because I saw nothing that seemed to justify such a drop in price. But I am concerned. Anybody see something scary enough to justify the fall?
Re: REPX 3rd Qtr Results
I am planning on listening to replay of call before end of week. Doesn't make sense to me but nothing happening in the market or world makes a lot of sense right now. Proceeding cautiously.
Re: REPX 3rd Qtr Results
Complete beat down, but today REPX seems to be on rebound. I sold most of my positions at $32. Still have some in and will hold.
Re: REPX 3rd Qtr Results
Conference call was a bit underwhelming but don't see reason for the crash other than them being bear the bottom of the food chain of oil & gas companies which took a serious body blow this week.