Exhibit 99.1 Riley Permian Reports First Quarter 2024 Results OKLAHOMA CITY, May 8, 2024 -- Riley Exploration Permian, Inc. (NYSE American: REPX) ("Riley Permian" or the "Company"), today reported financial and operating results for the first quarter ended March 31, 2024. FIRST QUARTER 2024 HIGHLIGHTS MANAGEMENT COMMENTARY "Our Company had a strong start to the year with both operational and financial performance during the first quarter," said Bobby D. Riley, Chief Executive Officer and Chairman of the Boa ...

Financial Data and Key Metrics Changes - Overall net oil production increased by 49% year-over-year to 13.2 MBoe per day, and total net equivalent production rose by 62% year-over-year to 18.6 MBoe per day [5] - Cash flow increased by 22% for the full year, benefiting from new volumes from the 2023 New Mexico acquisition and organic growth [10] - Free cash flow increased by 26% year-over-year to $70 million, with 39% allocated to dividends, which increased by 9% year-over-year [10] - Shareholders' equity increased by $88 million or 26% year-over-year [10] Business Line Data and Key Metrics Changes - Proved reserves increased by 39% year-over-year to 108 million Boe, while proved developed producing reserves rose by 23% year-over-year to 60 million Boe [5] - Significant drilling efficiency improvements were noted, with the time from spud to total depth decreasing by 50% and drilled feet per day increasing by 58% [8] Market Data and Key Metrics Changes - The company anticipates a free cash flow growth of 50% or more if oil prices average $75 for the remainder of the year, potentially exceeding $100 million [12] - The company expects a flat year-over-year free cash flow if oil prices remain stable, with a reinvestment rate projected at 50% to 55% of operating cash flow [12] Company Strategy and Development Direction - The company is focused on driving profitable growth and investing in infrastructure, including gas takeaway and electrical upgrades, to enhance operations for 2024 and beyond [11] - The integration of the New Mexico acquisition has allowed the company to establish operating synergies and streamline operations [30] - The company is exploring opportunistic investments, including small acquisitions and the Power joint venture, to enhance returns [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the future business, highlighting the ability to maintain dividends even at low oil prices [39] - The company is optimistic about its 2024 plan, with a capital program midpoint of over $120 million and plans to drill approximately 22 wells [32] - Management noted that the current hedge book is looking better than last year, which should positively impact cash flow [16] Other Important Information - The onsite power generation facility is expected to be fully operational by spring 2024, providing power to around 36% of operations in Yoakum County, Texas [28] - The company is committed to leveraging technology and best practices to enhance efficiencies further [30] Q&A Session Summary Question: Can you discuss the 2024 capital efficiency plan and the needed growth? - Management noted an advantaged opportunity with a plan to drill 22 wells and a reinvestment rate of just over 50%, leading to high free cash flow [37] Question: How do you evaluate acquisitions that could complement free cash flow capacity? - The company focuses on acquisitions with strong inventory and proximity to existing assets to optimize efficiencies [42] Question: What impact will the Power JV have on field operations and reliability? - Management indicated that while operating costs may not see a material improvement, the use of electric power could enhance reliability and efficiency [51] Question: What is the outlook for conventional versus unconventional assets in the market? - Management sees a trend towards conventional opportunities as companies digest their asset bases, with a focus on assets with significant undeveloped inventory [56]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-15555 Riley Exploration Permian, Inc. (Exact name of registrant as specified in its charter) Delaware 87-0267438 (State or other jurisdiction of incorporation or organization) (I. ...

Exhibit 99.1 • Full year 2024 guidance for oil production of 14.0 – 15.0 MBbls/d, corresponding to approximately 10% year-over-year growth at the midpoint • Full year 2024 guidance for total production of 21.0 – 22.5 MBoe/d, corresponding to approximately 17% year-over-year growth at the midpoint, benefiting from the anticipated addition of natural gas processing capacity through the year • Full year 2024 guidance for activity-based investing expenditures before acquisitions of $115 - 130 million, correspon ...

Core Viewpoint - The investment focus for 2024 is on small-cap companies, particularly Riley Exploration Permian, Inc. (NYSE:REPX), which is expected to benefit from the ongoing demand for oil despite the rise of renewables [4]. Company Overview - REPX is an independent player in the oil and natural gas sector, involved in the acquisition, exploration, development, and production of energy resources primarily in Texas and New Mexico [5]. - The company focuses on the San Andres Formation, a significant geological feature that offers valuable exploration opportunities [5]. Production and Financial Performance - In 2023, the U.S. oil production reached a record high of 13.3 million barrels per day, indicating strong demand for oil [4]. - REPX's production levels grew by 49% year-over-year to 14,000 barrels per day, showcasing strong growth prospects in the Permian Basin [7]. - The company generated $31 million in free cash flow (FCF) last quarter, which is more than its annual dividend payout of $27 million [4][8]. - The stock trades at a low price-to-earnings (P/E) ratio of 4.8, indicating potential for significant upside [4]. Earnings Highlights - For the three months ended September 30, 2023, REPX reported oil and natural gas sales of $107.7 million, net income of $8.6 million, and adjusted EBITDAX of $72.2 million [8]. - Daily combined volumes were 19,949 barrels of oil equivalent (Boe/d), with daily oil volumes at 14,043 barrels [8]. Valuation and Growth Potential - REPX is trading at a significant discount compared to its sector, with a forward P/E ratio of 4.81, which is 54.85% lower than the sector median [11][12]. - A fair valuation multiple of 7.5 suggests a price target of $48 for 2024, assuming a 15% year-over-year growth in earnings per share (EPS) [12]. - The company has expanded its asset base significantly, from $178 million in 2017 to nearly $1 billion, indicating strong growth initiatives [12]. Dividend and Shareholder Value - REPX has consistently raised its dividend, supported by strong FCF generation, making it an attractive option for dividend-seeking investors [4][15]. - The company has reduced its total debts by $10 million in the last quarter, with long-term debts currently at $365 million [10]. Industry Context - The Permian Basin is a highly productive region for oil and natural gas extraction, characterized by low production costs and proximity to established infrastructure [6]. - Despite the volatility in oil prices, REPX has demonstrated resilience and the ability to maintain strong FCF generation [13].

Financial Data and Key Metrics Changes - In Q3 2023, the company reported average oil production of 14,000 barrels per day and 19,900 barrels of oil equivalent per day, generating $72 million of adjusted EBITDAX, $53 million of operating cash flow, and $31 million of free cash flow [44] - Operating cash flow before changes in working capital increased by 22% quarter-over-quarter to $63 million, driven by a $10 increase in oil prices, which offset a 1,000 barrel per day production decline [8] - Lease operating expenses were $9.21 per BOE, within the guidance of $8.50 to $9.50 per BOE for the quarter [6] Business Line Data and Key Metrics Changes - The company drilled three net operated horizontal wells, completed 4.7 net operated wells, and turned to sales 5.7 net operated wells during the quarter [53] - Capital expenditures (CapEx) declined by 24% on an accrual basis and by 35% on a cash basis, primarily due to a planned slowdown in activity following a very active first half of 2023 [23] Market Data and Key Metrics Changes - Realized oil prices increased by 13%, while realized natural gas prices rose to $0.58 from $0.02 in the previous quarter, and realized NGL prices increased by nearly 60% [8] - The company anticipates that the reinvestment rate could fall below 70% for the full year, with a current reinvestment rate of 50% for the quarter [23] Company Strategy and Development Direction - The company remains focused on strategic growth, operational efficiency, and returning capital to shareholders while reducing debt taken on to acquire New Mexico properties [50] - The company is evaluating alternative options to optimize and secure long-term sustainable midstream capacity and is in the final phases of commissioning Phase 1 of on-site power generation [52] Management's Comments on Operating Environment and Future Outlook - Management noted that substantial production contributions for the current year are not anticipated, but a drilling program has commenced, expecting to complete three net wells in Q4 [7] - The company is optimistic about the fourth quarter free cash flow despite modestly lower production and lower prices, with a forecast of good free cash flow [24] Other Important Information - The company reduced debt by $10 million quarter-over-quarter and paid dividends of $0.34 per share in Q3, totaling approximately $6.8 million [44] - A cash dividend of $0.36 per share was declared after the end of the quarter, representing a 6% increase [44] Q&A Session Summary Question: Are you seeing more opportunities to add assets on the Texas side or New Mexico? - Management indicated that there are multiple sizes of opportunities, including both large packages and smaller bite-size assets [59] Question: What are your thoughts on the hedging environment right now? - Management stated that they aim to protect downside while retaining some upside, emphasizing that a small increase in asset value has a disproportionately large impact on equity value [61]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-15555 Riley Exploration Permian, Inc. (Exact name of registrant as specified in its charter) Delaware 87-0267438 (State or other jurisdiction of incorporation or organiza ...

Riley Exploration Permian, Inc. (NYSE:REPX) Q2 2023 Results Conference Call August 8, 2023 11:00 AM ET Company Participants Philip Riley - CFO and EVP of Strategy Bobby Riley - Chairman and CEO Kevin Riley - President Conference Call Participants Neal Dingmann - Truist Securities Noel Parks - Tuohy Brothers Jeff Robertson - Water Tower Research Philip Riley Thank you, and good morning. Welcome to our conference call covering the second quarter 2023 results. Yesterday, the company published a number of items ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-15555 Riley Exploration Permian, Inc. (Exact name of registrant as specified in its charter) Delaware 87-0267438 (State or other jurisdiction of incorporation or organization) ...

Riley Exploration Permian, Inc. (NYSE:REPX) Q1 2023 Earnings Conference Call May 9, 2023 10:00 AM ET Company Participants Philip Riley - Chief Financial Officer Bobby Riley - Chairman and Chief Executive Officer Kevin Riley - President Conference Call Participants Neil Dingmann - Truist Securities Noel Parks - Tuohy Brothers Investment Research Operator Hello and thank you for standing by. My name is Jeremy and I will be your conference operator today. At this time, I would like to welcome everyone to the R ...