Riley Permian Reports 2024 Results and Provides 2025 Guidance

Core Insights - Riley Exploration Permian, Inc. reported strong financial and operational results for the fourth quarter and full year of 2024, exceeding initial production and capital expenditure goals [3][12][30] Financial Performance - Fourth quarter revenues reached $103 million, with a net income of$11 million or $0.52 per diluted share [8] - For the full year 2024, revenues totaled$410 million, net cash provided by operating activities was $246 million, and net income was$89 million or $4.26 per diluted share [12] - The company achieved a 67$31 million, with $20 million allocated for upstream activities [10] - The company reduced total debt by$20 million in Q4 2024, achieving a debt-to-Adjusted EBITDAX ratio of 1.0x [11][12] Reserves and Future Growth - Proved reserves increased by 15% to 124 MMBoe as of December 31, 2024, with a reserve replacement ratio of 293% for the year [18][19] - The company plans to focus on strategic investments in New Mexico and advance its gas midstream project to enhance operational control and growth [3][21] Guidance and Future Plans - The company has provided guidance for 2025 capital expenditures ranging from $188 million to$232 million, with a focus on upstream, midstream, and power joint venture investments [5][30] - The New Mexico gas midstream project is expected to enhance processing and transportation capabilities, with an estimated $130 million in capital expenditures approved for initial projects [22][23]