Riley Permian Q2 net income $33M, oil output +80% YoY; reduces FY capex guidance

Riley Exploration Permian, Inc.

2023-Q2 EPS reported $3.25 revenue$166,924,000

Q2 oil production 15,055 bbl/d (+80% YoY, +52% QoQ); total output 21,236 boe/d (+109% YoY).
Net income $33.1M ($1.65 diluted EPS); includes $11M non-cash derivative gain; Adjusted EBITDAX $66.3M.
Acquisition of New Mexico assets closed early Q2; integration on track; drilling commenced April.
Total capex before acquisitions $39M accrual ($48M cash), below prior guidance; FY capex reduced to $130-152M.
Dividend maintained at $0.34/share; Q3 2023 production guidance 18.6-19.8 MBoe/d, oil 13.0-14.0 MBbl/d.

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 0.9

Riley Exploration Permian, Inc. reported the second quarter ended June 30, 2023 results: revenue $ 99,312, net income $33 million, EPS $1.65 per diluted share. Guidance lowered.

Period: the second quarter ended June 30, 2023
Revenue: $ 99,312
Net income: $33 million
EPS: $1.65 per diluted share
Guidance: lowered
Result: reported results

Exact text from the filing

Three Months Ended Six Months Ended June 30, 2023 March 31, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Select Financial Data (in thousands): Oil and natural gas sales, net $ 99,312 $ 66,412 $ 87,781 $ 165,724 $ 154,426 Net income $ 33,068 $ 31,851 $ 38,555 $ 64,919 $ 31,387 Adjusted EBITDAX (1) $ 66,265 $ 43,508 $ 44,797 $ 109,773 $ 79,280 Production Data,

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accession 0001001614-23-000030

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