Riley Permian Q3 sales up, raises 2025 oil production forecast

Overview

• Riley Permian Q3 revenue totals $107 mln, net income at $16 mln, EPS $0.77

• Company increased annual dividend by 5% to $0.40 per share

• Oil production increased 21% quarter-over-quarter, driven by Silverback asset integration

Outlook

• Company raises full-year oil production guidance by 2% at midpoint

• Company maintains full-year total capital expenditures guidance

• Company expects midstream infrastructure in New Mexico operational by 2026

Result Drivers

• SILVERBACK ACQUISITION - Integration of Silverback assets increased oil production and reduced costs

• FREE CASH FLOW GENERATION - Execution of development and capital plan generated significant free cash flow

• MIDSTREAM AND POWER PROJECTS - Progress on midstream and power generation projects to scale operations

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

• Wall Street's median 12-month price target for Riley Exploration Permian Inc is $60.00, about 57.9% above its November 4 closing price of $25.25

• The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 5 three months ago

Press Release: ID:nPnbG9wHba

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)