Riley Exploration Permian, Inc. (REPX): M&A transaction disclosed in 8-K

Riley Exploration Permian, Inc. (REPX): M&A transaction — Riley Exploration Permian closes ~$121M midstream sale to Targa; debt cut by $103M

Riley Exploration Permian, Inc.

Total cash consideration ~$121M ($111M for midstream interests + $10M for compressor assets + $1.4M reimbursement).

Net cash proceeds of ~$120.3M after costs; used to repay ~$103M of Credit Facility debt.

Eligible for up to $60M earnout over five years based on volume thresholds at the sold midstream assets.

Pro forma EPS rises to $3.75 (diluted) for 9M 2025 and $7.07 for FY2024, reflecting gain on sale and lower interest.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Riley Exploration Permian, Inc. completed a disposition involving Targa Northern Delaware LLC for aggregate cash purchase price of approximately $111 million for the membership interests and approximately $10 million plus reimbursement of $1.4 million for co (closed 2025-12-24).

Action: disposition
Counterparty: Targa Northern Delaware LLC
Consideration: aggregate cash purchase price of approximately $111 million for the membership interests and approximately $10 million plus reimbursement of $1.4 million for co
Closing: 2025-12-24

Exact text from the filing

pursuant to which the Company sold to Buyer all of the membership interests in Dovetail Midstream, LLC, a wholly owned subsidiary of the Company that holds certain midstream infrastructure projects in Eddy County, New Mexico, for an aggregate cash purchase price of approximately $111 million, subject to customary purchase price adjustments (the “Midstream Sale”). The Midstream Sale also provided for the sale by the Company to Buyer of certain compressor station assets for an aggregate cash purchase price of approximately $10 million plus reimbursement of $1.4 million of capital improvements at a subsequent closing date (the “Second Closing”), subject to the satisfaction of certain closing conditions. The initial closing of the Midstream Sale took place on December 3, 2025, and the Second Closing occurred on December 24, 2025.

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