$REPX

Riley Exploration Permian, Inc.

CIK:0001001614|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues:
Total Revenues	$ 165,850	$ 85,394	$ 279,731	$ 187,851
Costs and Expenses:
Lease operating expenses	29,433	18,880	53,504	37,211
Production and ad valorem taxes	11,430	6,126	20,462	12,796
Exploration costs	466	47	1,433	56
Depletion, depreciation, amortization and accretion	24,651	19,563	50,371	38,701
Impairment of oil and natural gas properties	0	1,214	0	1,214
General and administrative:
Administrative costs	8,720	6,199	16,840	13,637
Stock-based compensation expense	3,918	2,685	6,219	4,054
Transaction costs	0	1,926	0	1,926
Total Costs and Expenses	78,618	56,640	148,829	109,595
Income from Operations	87,232	28,754	130,902	78,256
Other Income (Expense):
Interest expense, net	(6,770)	(7,171)	(13,127)	(13,832)
Gain (loss) on derivatives, net	33,235	18,720	(93,735)	12,870
Income (loss) from equity method investment	45	(129)	(323)	(248)
Gain (loss) on acquisitions and divestitures, net	961	0	(1,736)	0
Total Other Income (Expense)	27,471	11,420	(108,921)	(1,210)
Net Income from Operations before Income Taxes	114,703	40,174	21,981	77,046
Income tax expense	(27,333)	(9,704)	(5,045)	(17,943)
Net Income	$ 87,370	$ 30,470	$ 16,936	$ 59,103
Net Income per Share:
Basic (USD per Share)	$ 4.17	$ 1.44	$ 0.81	$ 2.80
Diluted (USD per Share)	$ 4.11	$ 1.44	$ 0.80	$ 2.80
Weighted Average Common Shares Outstanding:
Basic (in Shares)	20,937	21,141	20,903	21,126
Diluted (in Shares)	21,255	21,158	21,138	21,135
Oil and natural gas sales, net
Revenues:
Total Revenues	$ 165,850	$ 85,394	$ 279,731	$ 187,851

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities:
Net income	$ 16,936	$ 59,103
Adjustments to reconcile net income to net cash provided by operating activities:
Exploratory well costs and lease expirations	1,379	10
Depletion, depreciation, amortization and accretion	50,371	38,701
Impairment of oil and natural gas properties	0	1,214
(Gain) loss on derivatives, net	93,735	(12,870)
Settlements on derivative contracts	(47,885)	6,266
Amortization of deferred financing costs and discount	2,367	2,373
Stock-based compensation expense	6,219	4,054
Deferred income tax expense	4,925	3,040
Loss from equity method investment	323	248
Loss on acquisitions and divestitures, net	858	0
Other	0	(8)
Changes in operating assets and liabilities
Accounts receivable, net	(29,611)	9,116
Prepaid expenses	(3,368)	(1,281)
Inventory	(2,158)	(1,989)
Other non-current assets, net	185	(1,154)
Accounts payable and accrued liabilities	13,264	(10,243)
Revenue payable	18,248	(1,987)
Other current liabilities	(15,112)	(10,572)
Net Cash Provided by Operating Activities	110,676	84,021
Cash Flows from Investing Activities:
Additions to oil and natural gas properties	(96,864)	(40,938)
Additions to midstream property and equipment	(1,410)	(6,294)
Additions to other property and equipment	(1,197)	(636)
Acquisitions of oil and natural gas properties	(4,824)	(2,138)
Acquisitions of land	(548)	0
Proceeds from divestitures	8,206	0
Contributions to equity method investment	(6,500)	(6,250)
Distributions from equity method investment	1,487	0
Funds held in escrow	0	(14,201)
Net Cash Used in Investing Activities	(101,650)	(70,457)
Cash Flows from Financing Activities:
Deferred financing costs	(108)	(164)
Proceeds from Credit Facility	77,000	30,000
Repayments under Credit Facility	(49,000)	(16,000)
Repayments of Senior Notes	(10,000)	(10,000)
Payment of earnout liability	(310)	0
Payment of cash dividends	(17,038)	(16,121)
Repurchase of common shares	(4,902)	0
Repurchase of common shares for tax withholding and other	(1,871)	(377)
Net Cash Used in Financing Activities	(6,229)	(12,662)
Net Increase in Cash	2,797	902
Cash, Beginning of Period	17,889	13,124
Cash, End of Period	20,686	14,026
Cash Paid For:
Interest, net of capitalized interest	11,307	11,187
Income taxes	24,203	14,784
Non-cash Investing and Financing Activities:
Changes in capital expenditures in accounts payable and accrued liabilities	31,510	2,596
Transfer of inventory to oil and natural gas properties	28	2,307
Right-of-use assets obtained in exchange for operating lease liability	$ 352	$ 2,133

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current Assets:
Cash	$ 20,686	$ 17,889
Receivables from oil, natural gas and NGL sales	69,169	41,045
Prepaid expenses	5,428	7,763
Inventory	9,029	7,929
Current derivative assets	10	19,141
Total Current Assets	104,322	93,767
Oil and natural gas properties, net (successful efforts)	1,082,809	995,539
Other property and equipment, net	23,205	21,872
Non-current derivative assets	3,213	5,117
Equity method investment	42,365	36,188
Funds held in escrow	1,196	1,196
Other non-current assets, net	13,381	15,899
Total Assets	1,270,491	1,169,578
Current Liabilities:
Accounts payable	33,189	5,083
Accrued liabilities	54,531	37,690
Revenue payable	77,854	59,606
Current derivative liabilities	22,106	37
Current portion of long-term debt	20,000	20,000
Other current liabilities	24,299	34,089
Total Current Liabilities	231,979	156,505
Non-current derivative liabilities	2,858	112
Asset retirement obligations	59,642	59,977
Long-term debt	247,495	227,855
Deferred tax liabilities	91,044	86,119
Other non-current liabilities	4,119	4,768
Total Liabilities	637,137	535,336
Commitments and Contingencies (Note 15)
Shareholders' Equity:
Preferred stock, $0.0001 par value, 25,000,000 shares authorized; 0 shares issued	0	0
Common stock, $0.001 par value, 240,000,000 shares authorized; 22,173,260 and 21,718,800 shares issued at June 30, 2026 and December 31, 2025, respectively	22	22
Additional paid-in capital	306,106	306,660
Retained earnings	327,226	327,560
Total Shareholders' Equity	633,354	634,242
Total Liabilities and Shareholders' Equity	$ 1,270,491	$ 1,169,578