Riley Permian Q4 net income $38M, guides 10% oil production growth in 2024

Riley Exploration Permian, Inc.

Q4 revenue $100M, net income $38M ($1.90 diluted EPS); full-year revenue $375M, net income $112M ($5.58 diluted EPS).
Q4 adjusted EBITDAX $64M, free cash flow $33M; full-year free cash flow $70M, up 26% YoY.
Full-year 2023 oil production 13,156 bbl/d (+49% YoY). 2024 guidance: oil 14,000-15,000 bbl/d, capex $115-130M (-10% midpoint).
Proved reserves 108 MMBoe (+39% YoY, 62% oil); debt reduced $30M in Q4; Q4 dividend $0.36/share, annual $1.38/share (+9%).
EOR CO2 injection pilot continues; baseload power JV operating 36% of Yoakum County operations.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Riley Exploration Permian, Inc. updated its fourth quarter and year ended December 31, 2023 guidance (reaffirmed).

Period: fourth quarter and year ended December 31, 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On March 6, 2024 , Riley Exploration Permian, Inc. (the “Company”) announced its financial condition and results of operations for the fourth quarter and year ended December 31, 2023.

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Source: SEC EDGAR

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