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Earnings Call Summary | Riley Exploration Permian(REPX.US) Q1 2024 Earnings Conference

Futu News ·  May 10 04:00  · Conference Call

The following is a summary of the Riley Exploration Permian, Inc. (REPX) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Riley Exploration reported a 4% increase in Q1 net oil production to an average of 14.2 thousand barrels per day.

  • Operating cash flow before working capital increased by 7% quarter-over-quarter, despite 2% lower oil prices.

  • The company's reinvestment rate of operating cash flow into upstream CapEx was 45% on accrual basis and 60% on a cash CapEx basis.

Business Progress:

  • Riley Exploration drilled seven net wells in Q1 and expects Q2 oil production to reach between 14.4 and 14.8 thousand barrels per day.

  • The company completed the acquisition of 13,900 net acres in Eddy County, New Mexico, extending its operational range.

  • Riley will continue to focus on operational excellence, cost control and capital efficiency while allocating resources to support growth.

More details: Riley Exploration Permian IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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