Riley Permian Q1 net income $32M, oil production up 32% YoY; New Mexico acquisition closed April 2023

Riley Exploration Permian, Inc.

2023-Q1 EPS reported $1.60 revenue$67,012,000

Net income $32M ($1.60 diluted EPS); revenue from oil and gas sales $66.4M, down 14% QoQ.
Oil production averaged 9,922 bbl/d (+32% YoY); total production 13,169 Boe/d (+34% YoY).
Adjusted EBITDAX $44M; operating cash flow $33M; paid $0.34/share dividend ($7M).
Closed transformative New Mexico acquisition in April 2023; added $200M senior notes to fund it.
Q2 2023 guidance: total production 20-21 MBoe/d; oil 14-15 MBbl/d; full-year 2023 guidance unchanged.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Riley Exploration Permian, Inc. reported the first quarter ended March 31, 2023 results: revenue $66,412, net income $32 million, or $1.60 per diluted share, EPS $1.60 per diluted share.

Period: the first quarter ended March 31, 2023
Revenue: $66,412
Net income: $32 million, or $1.60 per diluted share
EPS: $1.60 per diluted share
Result: reported results

Exact text from the filing

Operating and Financial Data (Unaudited) Three Months Ended March 31, 2023 December 31, 2022 March 31, 2022 Select Financial Data (in thousands): Oil and natural gas sales, net $ 66,412 $ 77,446 $ 66,645 Net income (loss) $ 31,851 $ 26,807 $ (7,168) Adjusted EBITDAX (1) $ 43,508 $ 45,876 $ 34,439 Production Data, net: Oil (MBbls) 893 916 675 Natural gas (MMcf)

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Source: SEC EDGAR

accession 0001001614-23-000017

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