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 ...

2023 Plan Guidance 7 (1) Based on management estimates and midpoint guidance. Price sensitivity uses actual prices through 4/30/2023 and flat price case thereafter; each case uses $2.54 for Henry Hub natural gas index price. "75% As Reported" metrics reflect the impact of the New Mexico Acquisition for the second, third and fourth quarters of 2023. "100% Pro Forma" metrics represent illustrative, run-rate metrics as if the New Mexico Acquisition closed on January 1, 2023. (2) A non-GAAP financial measure as ...

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 March 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 | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | --- | --- | --- | | Common stock, par value $0.001 | REPX | NYSE American | In ...

Financial Data and Key Metrics Changes - Total revenue for the fourth quarter was approximately $64 million, which is 10% lower than the third quarter, primarily due to a 13% decrease in realized oil prices, partially offset by higher production and lower derivative settlements [14][18] - Cash flow from operations before changes in working capital decreased from $50 million to $44 million, representing a 12% decrease quarter-over-quarter [15] - For the full year, cash flow from operations before working capital increased by 89% year-over-year from $89 million to $169 million, driven by higher volumes and prices [16][41] Business Line Data and Key Metrics Changes - Production grew from 12.7 to 13.3 MBoe per day in the fourth quarter, a 4% increase quarter-over-quarter, and year-over-year average production increased from 9.2 to 11.5 MBoe per day, a 25% increase [5][41] - Lease operating expenses for the fourth quarter were $8.8 million or $7.16 per BOE, representing a 5% decrease quarter-over-quarter and a 5% increase year-over-year [6] Market Data and Key Metrics Changes - The company anticipates starting operations on the Pecos assets in mid-April, with new production expected by early to mid-summer [4] - The acquisition of Pecos Oil & Gas assets is expected to enhance production and diversify the company's portfolio, reducing single area concentration risk [9] Company Strategy and Development Direction - The company is focused on driving profitable growth and investing in long-term initiatives, including the acquisition of new assets and the development of on-site power generation [10][40] - The joint venture for on-site power generation aims to improve control over energy costs and reduce carbon emissions [10] Management's Comments on Operating Environment and Future Outlook - Management noted that inflationary pressures are being observed, but there are signs of prices starting to come down, which could lead to improved efficiencies [28] - The company is working on a large-scale storage hub project for CO2, indicating a commitment to advancing environmental initiatives [31] Other Important Information - The company paid $25 million in dividends during the year, corresponding to 44% of free cash flow, and has paid dividends for 16 consecutive quarters [42][43] - The first phase of the power generation project is expected to be operational by June 2023, providing 10 megawatts of power [10] Q&A Session Summary Question: Thoughts on Pecos assets and competition - Management anticipates starting operations in mid-April and bringing on new production by early to mid-summer [4] Question: Inflation costs and mitigation - Management noted that prices may be starting to come down, which could help drive efficiencies [28] Question: Update on CCUS project - The company is working with partners on a large-scale storage hub project, focusing on efficiency and shareholder capital [31] Question: Infrastructure issues with Yeso assets - There are no anticipated large infrastructure CapEx needs, as existing infrastructure is in place [57] Question: Flexibility with midstream contracts - Management indicated that there is flexibility with midstream contracts to maximize economics [61] Question: Impact of power project on operating efficiency - The power project aims to improve operational quality and reduce costs associated with fluctuating power quality [62] Question: Hedging positions for oil - The company has established hedge positions to protect cash flows, especially with the new acquisition [86]

Forward-Looking Statements All statements, other than historical facts, that address activities that Riley Permian assumes, plans, expects, believes, intends or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements. The forward-looking statements are based on management's current beliefs, based on currently available information, as to the outcome and timing of future events, including the volatility of oil, natural gas and NGL prices; the scope, ...

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, 2022 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. ...

Riley Exploration Permian, Inc. (NYSE:REPX) Q3 2022 Earnings Conference Call November 15, 2022 11:00 AM ET Company Participants Philip Riley - Chief Financial Officer and Executive Vice President, Strategy Bobby Riley - Chairman and Chief Executive Officer Kevin Riley - President Conference Call Participants Neal Dingmann - Truist Securities John White - ROTH Capital Noel Parks - Tuohy Brothers Richard Dearnley - Longport Partners Operator Hello and thank you for standing by. My name is Regina and I will be ...

Commission file number 001-15555 Riley Exploration Permian, Inc. (Exact name of registrant as specified in its charter) 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, 2022 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Delaware 87-0267438 (State or other jurisdiction of incorporation or organiza ...

Production and Revenue - Total net equivalent production increased by 12% to 10.2 MBoe/d for the three months ended June 30, 2022, and by 20% to 10.0 MBoe/d for the nine months ended June 30, 2022, compared to the same periods in 2021[104]. - Oil sales revenue for the three months ended June 30, 2022, was $82.5 million, a 109% increase from $39.5 million in the same period in 2021[109]. - The average realized price for oil was $108.41 per Bbl for the three months ended June 30, 2022, compared to $64.55 per Bbl in the same period in 2021, reflecting a 68% increase[111]. - Natural gas revenues increased by $1.9 million to $2.9 million for the three months ended June 30, 2022, despite a 22% decrease in volumes[115]. - NGL revenues increased by $1.3 million to $2.4 million for the three months ended June 30, 2022, with realized prices increasing by $23.14 per Bbl[115]. Expenses and Costs - Lease operating expenses rose to $8.1 million for the three months ended June 30, 2022, compared to $5.8 million in the same period in 2021[119]. - Lease Operating Expenses (LOE) increased by $2.3 million for the three months ended June 30, 2022, compared to the same period in 2021, with $2.1 million attributed to higher workover expenses[121]. - For the nine months ended June 30, 2022, LOE increased by $6.0 million, primarily due to $4.7 million in costs associated with new wells and additional production volume[122]. - Production and ad valorem taxes rose by $3.5 million and $6.0 million for the three and nine months ended June 30, 2022, respectively, driven by increased oil and natural gas sales[124]. - Total exploration expense for the three months ended June 30, 2022, was $22,000, significantly lower than $2.785 million in the same period in 2021[125]. - Depletion, depreciation, amortization, and accretion expense increased by $0.1 million and $1.4 million for the three and nine months ended June 30, 2022, respectively, due to higher production[129]. - General and Administrative (G&A) expenses increased by $0.1 million for the three months ended June 30, 2022, but decreased by $0.7 million for the nine months ended June 30, 2022[131]. Cash Flow and Financing - Cash flow from operations generated was $97.0 million for the nine months ended June 30, 2022[104]. - The company exited the fiscal third quarter with $16.8 million in cash and $61.0 million drawn on its revolving credit facility[104]. - Net cash provided by operating activities increased by $38.1 million or 65% to $97.0 million for the nine months ended June 30, 2022, compared to $58.8 million for the same period in 2021[143]. - Net cash used in investing activities increased by $37.8 million or 96% to $77.2 million for the nine months ended June 30, 2022, primarily due to higher capital spending related to increased drilling and completion activity[144]. - Net cash used in financing activities increased by $1.9 million or 11% to $20.1 million for the nine months ended June 30, 2022, with $1.0 million utilized from the revolving credit facility for capital expenditures[145]. - The Company's borrowing base was $200 million with outstanding borrowings of $61 million on June 30, 2022, providing an available borrowing capacity of $139 million[146]. - The Company amended its Credit Agreement on April 29, 2022, increasing the borrowing base from $175 million to $200 million and extending the maturity date to April 2026[147]. Dividends and Shareholder Returns - The company paid cash dividends of $6.1 million during the three months ended June 30, 2022, with a latest dividend of $0.31 per share[104]. - The Company authorized and declared a quarterly dividend totaling approximately $6.2 million for the three months ended June 30, 2022[148]. Tax and Derivative Losses - The effective income tax rate for the nine months ended June 30, 2022, was 21.8%, compared to an effective rate of (38.0)% in the same period in 2021[138]. - The loss on derivatives for the three months ended June 30, 2022, was $12.363 million, a decrease from $35.396 million in the same period in 2021[134]. Working Capital and Commitments - As of June 30, 2022, the company had a working capital deficit of $55.6 million, compared to a deficit of $46.9 million as of September 30, 2021[141]. - The increase in revenues was $110.5 million, partially offset by an increase of $55.0 million on settlements for commodity derivative contracts and an increase in operating expenses of $15.2 million[143]. - The Company had a net paydown of $3.5 million on its revolving credit facility for the same period in 2021, contrasting with the current year's utilization[145]. - The Company has commitments with its primary midstream counterparty and has entered into purchase commitments throughout the nine months ended June 30, 2022[149].

Riley Exploration Permian, Inc. (NYSE:REPX) Q2 2022 Earnings Conference Call May 12, 2022 11:00 AM ET Company Participants Philip Riley - Executive Vice President, Strategy and Chief Financial Officer Bobby Riley - Chairman and Chief Executive Officer Kevin Riley - President Conference Call Participants Neal Dingmann - Truist Securities John White - ROTH Noel Parks - Tuohy Brothers Jeff Robertson - Water Tower Research Operator Ladies and gentlemen, thank you for standing by. My name is Brent and I will be ...