---
schema_version: "secwatch.filing_event.v1"
accession: "0001001614-23-000004"
form_type: "8-K"
ticker: "REPX"
cik: "0001001614"
company_name: "Riley Exploration Permian, Inc."
filed_at: "2023-02-28T23:59:59+00:00"
generated_at: "2026-06-18T19:50:04.989083+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Riley Permian acquires Yeso trend assets for $330M; $200M notes to fund

## Summary
- Purchase price $330M for 11,700 net acres in Eddy County, NM; 7.2 MBoe/d current production (58% oil).
- Deal valued at 3.4x 2023E Adjusted EBITDAX; expected to increase Adjusted EBITDAX ~50% and FCF ~70%.
- Funding via $200M senior unsecured notes (EOC Partners) and credit facility; pro forma leverage ~1.3x.
- Over 100 horizontal drilling locations in Yeso trend (Blinebry, Glorieta, Paddock); 99% HBP.
- Expected close early Q2 2023; effective date Jan 1, 2023; customary conditions apply.

## SEC filing metadata
- accession: 0001001614-23-000004
- form_type: 8-K
- ticker: REPX
- cik: 0001001614
- company_name: Riley Exploration Permian, Inc.
- filed_at: 2023-02-28T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1001614/000100161423000004/0001001614-23-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1001614/000100161423000004/repx-20230222.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001001614-23-000004
- JSON: https://secwatch.observer/filing/0001001614-23-000004.json
- Plain text: https://secwatch.observer/filing/0001001614-23-000004.txt

## Key facts
- Material Agreements
  Riley Exploration Permian, Inc. amended Amendment with Truist Bank, as Administrative Agent, and the lenders party thereto valued at amendment to credit facility dated September 28, 2017 (effective 2023-02-22).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Truist Bank, as Administrative Agent, and the lenders party thereto
  - Value: amendment to credit facility dated September 28, 2017
  - Effective: 2023-02-22
  source text: On February 22, 2023, the Company entered into the thirteenth amendment (the “Amendment”) to the credit facility dated September 28, 2017 (the “Credit Facility”) with Truist Bank, as Administrative Agent, and the lenders party thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1001614/000100161423000004/0001001614-23-000004-index.htm
- Material Agreements
  Riley Exploration Permian, Inc. entered into Commitment Letter with EOC Partners Advisors L.P. and/or one of its affiliates valued at $200 million (effective 2023-02-22).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: EOC Partners Advisors L.P. and/or one of its affiliates
  - Value: $200 million
  - Effective: 2023-02-22
  source text: In connection with the Purchase Agreement, the Company entered into a commitment letter dated February 22, 2023 (the “Commitment Letter”) with EOC Partners Advisors L.P. and/or one of its affiliates (collectively, “EOC”) in which EOC and/or one of its affiliates will purchase $200 million of unsecured senior notes (“Senior Notes”) from the Company on the closing date of the NM Acquisition.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1001614/000100161423000004/0001001614-23-000004-index.htm
- Material Agreements
  Riley Exploration Permian, Inc. entered into Purchase Agreement with Pecos Oil & Gas, LLC valued at approximately $330 million (effective 2023-02-22).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Pecos Oil & Gas, LLC
  - Value: approximately $330 million
  - Effective: 2023-02-22
  source text: On February 22, 2023, Riley Exploration - Permian, LLC. (“REP LLC”), wholly-owned subsidiary of Riley Exploration Permian, Inc., (“REPX,” together with REP LLC, hereinafter referred to as the “Company”) entered into a purchase and sale agreement (the “Purchase Agreement”) with Pecos Oil & Gas, LLC, a Delaware limited liability company and an affiliate of Cibolo Energy Partners LLC, to acquire oil and natural gas assets located primarily in the Yeso trend of the Permian Basin in Eddy County of New Mexico for an aggregate purchase price of approximately $330 million, subject to customary purchase price adjustments, (the “NM Acquisition”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1001614/000100161423000004/0001001614-23-000004-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.