Riley Exploration Permian, Inc.

Listed Company

REPXCIK 0001001614NYSEAcceleratedCrude Petroleum & Natural GasDelawareFY ends Dec 31

Period

FY 2025

Revenue

$391.98M

Net Income

$160.84M

Total Assets

$1.17B

Equity

$634.24M

Shares Out

20.40M

Op. Cash Flow

$212.54M

Business

Riley Exploration Permian, Inc. is an independent oil and natural gas company focused on horizontal drilling of conventional oil‑saturated and liquids‑rich formations in the Permian Basin. It produces and markets oil, natural gas and natural gas liquids (NGLs), and conducts drilling, completion, production operations, and midstream gathering and water disposal activities. Key operating areas and development efforts are organized around its Champions field in Yoakum County, Texas and its Red Lake field in Eddy County, New Mexico, including operated and non‑operated wells and midstream projects. The company sells production to a limited number of purchasers and transports hydrocarbons via pipelines, LACT meters, truck, and customer‑provided gathering and processing systems.

Summary from filing dated 2025-03-05

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-09-30
Total Revenues	392	410	375	322	151
Lease operating expenses	88	71	59	32	22
Production and ad valorem taxes	29	29	26	19	9
Exploration costs	400,000	3	4	2	10
Depletion, depreciation, amortization and accretion	93	75	65	32	26
Impairment of oil and natural gas properties	1	11	10	7	0
Other impairments	2	30	0	—	—
Administrative costs	31	27	27	18	14
Stock-based compensation expense	9	8	7	3	6
Transaction costs	5	2	6	3	4
Total Costs and Expenses	259	256	203	118	91
Income from Operations	133	154	172	204	60
Interest expense, net	−31	−34	−32	—	—
Gain (loss) on derivatives, net	36	−2	6	−52	−89
Loss from equity method investment	−886,000	−721,000	−218,000	0	—
Gain on midstream sale	72	0	0	—	—
Total Other Income (Expense)	76	−37	−26	−53	−94
Net Income from Operations Before Income Taxes	209	117	146	151	−34
Income tax expense	−48	−28	−34	−33	−13
Net income	161	89	112	118	−66
Basic (USD per Share)	7.61	4.29	5.66	6.04	−4.19
Diluted (USD per Share)	7.59	4.26	5.58	5.99	−4.19
Basic (in Shares)	21	21	20	20	16
Diluted (in Shares)	21	21	20	20	16

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash	18	13	15	—	—
Accounts receivable, net	41	44	35	26	18
Prepaid expenses	8	2	2	3	—
Inventory	8	6	6	9	780,000
Current derivative assets	19	3	5	20,000	83,000
Total Current Assets	94	68	63	51	31
Oil and natural gas properties, net (successful efforts)	996	861	847	440	359
Other property and equipment, net	22	30	21	20	3
Non-current derivative assets	5	585,000	2	0	267,000
Equity method investment	36	23	6	0	—
Funds held in escrow	1	0	—	—	—
Other non-current assets, net	16	11	7	4	2
Total Assets	1,170	994	946	515	396
Accounts payable	5	14	4	4	8
Accrued liabilities	38	34	33	36	13
Revenue payable	60	35	31	18	11
Current derivative liabilities	37,000	0	360,000	16	31
Current portion of long-term debt	20	20	20	0	—
Other current liabilities	34	20	6	3	947,000
Total Current Liabilities	157	123	94	76	64
Non-current derivative liabilities	112,000	414,000	0	12,000	10
Asset retirement obligations	60	33	19	3	2
Long-term debt	228	249	336	56	65
Deferred tax liabilities	86	77	73	46	17
Other non-current liabilities	5	961,000	1	1	95,000
Total Liabilities	535	483	524	182	158
Commitments and Contingencies (Note 15)	—	—	—	—	—
Preferred stock, $0.0001 par value, 25,000,000 shares authorized; 0 shares issued	0	0	0	0	0
Common stock, $0.001 par value, 240,000,000 shares authorized; 21,718,800 and 21,482,555 shares issued at December 31, 2025 and December 31, 2024, respectively	22,000	21,000	20,000	20,000	20,000
Additional paid-in capital	307	310	279	275	272
Retained earnings	328	200	142	59	−34
Total Shareholders' Equity	634	511	422	333	238
Total Liabilities and Shareholders' Equity	1,170	994	946	515	396

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-09-30
Exploratory well costs and lease expirations	300,000	3	4	2	9
Other impairments	2	29	0	—	—
Settlements on derivative contracts	17	2	−17	−75	−16
Amortization of deferred financing costs and discount	5	5	4	731,000	—
Stock-based compensation expense	9	8	7	4	6
Deferred income tax expense	11	3	28	28	13
Other	2,000	0	−25,000	0	—
Accounts receivable, net	12	−9	−10	−8	−7
Prepaid expenses	−290,000	−53,000	−717,000	5	201,000
Inventory	274,000	2	−546,000	−6	—
Other non-current assets, net	−3	−994,000	−1	−12,000	0
Accounts payable and accrued liabilities	−4	10	3	3	7
Revenue payable	11	4	11	6	5
Other current liabilities	5	14	−2	826,000	−195,000
Net Cash Provided by Operating Activities	213	246	207	170	—
Additions to oil and natural gas properties	−90	−98	−135	−112	−58
Additions to midstream property and equipment	−37	−11	0	—	—
Additions to other property and equipment	−2	−875,000	−1	−1	−2
Net assets acquired in business combination	−118	0	−325	0	—
Acquisitions of oil and natural gas properties	−2	−20	−5	0	−445,000
Acquisitions of land	−1	0	0	−15	0
Disposition of midstream property and equipment	120	0	0	—	—
Contributions to equity method investment	−16	−18	−4	0	—
Funds held in escrow	−1	0	0	—	—
Net Cash Used in Investing Activities	−146	−148	−470	−128	—
Deferred financing costs	−432,000	−3	−7	−2	−139,000
Proceeds from Credit Facility	155	15	185	22	6
Repayments under Credit Facility	−160	−85	−56	−31	−47
Proceeds from Senior Notes, net of issuance costs	0	0	188	0	—
Repayments of Senior Notes	−20	−20	−15	0	—
Payment of cash dividends	−33	−31	−28	−25	−18
Proceeds from issuance of common shares, net	0	25	2,000	0	—
Repurchase of common shares for tax withholding and other	−3	−2	−3	−1	−514,000
Net Cash Provided by (Used in) Financing Activities	−62	−101	264	−37	−15
Net Increase (Decrease) in Cash and Cash Equivalents	5	−2	2	5	15
Interest, net of capitalized interest	28	32	27	2	3
Income taxes, net of refunds	21	18	10	4	191,000
Changes in capital expenditures in accounts payable and accrued liabilities	−3	1	−6	15	11
Transfer of inventory to oil and natural gas properties	2	29,000	0	—	—
Right-of-use assets obtained in exchange for operating lease liability	3	632,000	1	—	—
Net asset transfer for common shares	9	0	0	—	—
Assets contributed to equity method investment	0	0	2	0	—
Distributions declared from equity method investment	1	0	0	—	—
Asset retirement obligations assumed in acquisitions	19	10	19	0	—
Revisions in asset retirement obligations	8	2	0	—	113,000
Fair value of contingent consideration transferred in business combination	3	0	0	—	—

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