US EditionRiley Permian Reports First Quarter 2025 Results and Announces Acquisition and Modified Development Outlook
- Riley Exploration Permian, Inc. Reported its financial and operating results for Q1 2025 and announced an agreement to acquire Silverback Exploration.
- In response to recent market trends and the upcoming acquisition, management has decided to adjust their earlier plans for investment and development efforts.
- During the first quarter of 2025, Riley Permian produced an average of 24.4 MBoe/d, achieved $50 million in operating cash inflows, spent $24 million on capital investments, and lowered its debt by $21 million.
- The $142 million acquisition of Silverback Exploration will add 5 MBoe/d of production and over 300 undeveloped locations, while the borrowing base was reaffirmed at $400 million.
- These developments suggest Riley Permian aims to expand its production efficiently amid market changes, with CEO Bobby D. Riley noting the quarter showed "another capital-efficient quarter of strong performance.
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Riley Permian Reports First Quarter 2025 Results and Announces Acquisition and Modified Development Outlook
OKLAHOMA CITY, May 7, 2025 /PRNewswire/ -- Riley Exploration Permian, Inc. (NYSE American: REPX) ("Riley Permian" or the "Company"), today reported financial and operating results for the first quarter ended March 31, 2025.
·Denton, United States
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