Riley Permian Q2 net income $33.5M, FCF $38.3M; reaffirms FY guidance

Riley Exploration Permian, Inc.

2024-Q2 EPS reported $2.55 revenue$205,147,000

Revenue $105.4M, net income $33.5M ($1.59 diluted EPS); Adjusted EBITDAX $73.3M.
Average oil production 14.7 MBbls/d, total 21.3 MBoe/d; oil price $79.25/bbl.
Reduced debt by $20M; raised $25.4M via equity offering at $27.00/share.
Closed acquisition of ~13,900 net acres in Eddy County, NM for $17.6M.
Q3 guidance issued: production 21.0-23.0 MBoe/d; E&P capex $27-34M.

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