Riley Permian Q3 oil production up 36% YoY to 9.4 MBbls/d; net income $60M, dividend raised 10%

Riley Exploration Permian, Inc.

2022-Q3 EPS reported $4.65 revenue$243,697,000

Oil production averaged 9.4 MBbls/day, 36% above Q3 2021 and 13% above Q2 2022; total production also record.
Net income of $60 million (incl. $35M non-cash derivative gain); operating income of $59 million.
Adjusted EBITDAX of $51 million; operating cash flow of $55 million, up 14% and 25% sequentially.
Capital expenditures: $37M accrual-based, $35M cash; dividend of $0.31/share paid in Q3, $0.34/share in Q4 after 10% increase declared in Oct 2022.
EOR project: water injection began in Q3, CO2 injection started in Q4; liquidity strengthened with lower borrowings and increased borrowing base.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Riley Exploration Permian, Inc. reported third quarter ended September 30, 2022 results: net income 60 million.

Period: third quarter ended September 30, 2022
Net income: 60 million
Result: reported results

Exact text from the filing

Reported net income of $60 million, which includes $35 million of non-cash gain on derivative contracts and income from operations of $59 million

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Source: SEC EDGAR

accession 0001001614-22-000033

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