Riley Permian Reports Third Quarter 2025 Results

Core Insights - Riley Exploration Permian, Inc. reported solid financial and operational results for Q3 2025, highlighting disciplined execution and strategic progress, including the successful integration of the Silverback acquisition [2][5][19] - The company increased its quarterly dividend by 5% to $0.40 per share, reflecting confidence in its cash flow generation [2][10] - Average oil production during the quarter was 18.4 MBbls/d, with total equivalent production averaging 32.3 MBoe/d, marking a 21% increase in daily oil volumes and a 33% increase in total equivalent volumes quarter-over-quarter [4][6] Financial Performance - Revenues for Q3 2025 totaled $107 million, with net income of $16 million or $0.77 per diluted share [6] - Adjusted EBITDAX was reported at $64 million, with total free cash flow of $25 million [6][13] - The company incurred total capital expenditures of $29 million, with $18 million accrued for activity-based capital expenditures [8][14] Operational Highlights - The company drilled 0.0 net wells in Q3 2025 but completed 5.0 net wells and turned to sales 7.5 net wells [3][4] - The integration of Silverback operations led to increased oil production above pre-acquisition levels [5] - The company is advancing its midstream infrastructure in New Mexico, with a planned 2026 in-service date for a pipeline [11][19] Production and Pricing - Average realized prices were $63.94 per barrel of oil, $(0.21) per Mcf of natural gas, and $(0.66) per barrel of natural gas liquids [7][18] - The company reported a $2 million gain on derivatives, primarily realized [7] Debt and Capital Structure - As of September 30, 2025, the company had $375 million in total debt, with $225 million outstanding on its Credit Facility and $150 million in Senior Notes [9][29] - The company increased total debt by $91 million, primarily to fund the Silverback acquisition [9] Future Guidance - The company raised its full-year oil production guidance by 2% at the midpoint, with a 4% increase expected for Q4 2025 [13][19] - Detailed guidance for Q4 2025 includes plans for drilling 8.0 to 10.0 net operated wells and total capital expenditures between $50 million and $71 million [21]