Riley Exploration Permian, Inc. · AMEX:REPX
Riley Exploration Permian — Q3 2023 Earnings Presentation
11 slides from Riley Exploration Permian's earnings presentation, Nov 8, 2023
Slide 1: 3Q23 Results Update
3Q23 Results Update November 2023
Slide 2: Forward-Looking Statements
Forward-Looking Statements Forward-Looking Statements This presentation contains projections and other forward-looking statements within the meaning of federal securities laws. These projections and statements reflect Riley Exploration Permian, Inc.’s (“Riley Permian”) current views with respect to
Slide 3: 3Q23 Select Highlights
3Q23 Select Highlights Achieved production at the high-end of guidance with capital spending below the low end 1 of guidance Generated $53 million of operating cash flow or $63 million of operating cash flow 2 before changes in working capital 3 Generated Free Cash Flow(1) of $31 million Paid divide
Slide 4: 3Q23 Performance vs. Prior Guidance
3Q23 Performance vs. Prior Guidance Activity and Investing Guidance Production, Realizations and Cost Guidance 3Q23 3Q23 3Q23 3Q23 Guidance Actuals Guidance Actuals Texas Activity Net Production Gross Operated Wells Drilled # 4 3 Total MBoe/d 18.6 - 19.8 19.9 Avg. WI on Gross Oper. Wells Drilled % 9
Slide 5: Quarterly Drivers of Change in Cash Flow from Operations (CFFO)
Quarterly Drivers of Change in Cash Flow from Operations (CFFO)(1) Q/Q: 3 Months Ending 9/30/23 vs 6/30/23 • CFFO(1) increased by $11MM or 22% Q/Q, driven primarily by materially higher prices • Including changes in working capital, cash flow from operations decreased by $3MM or 6% Q/Q • Volumes dec
Slide 6: Annual Drivers of Change in Cash Flow from Operations (CFFO)
Annual Drivers of Change in Cash Flow from Operations (CFFO)(1) Y/Y: 9 Months Ending 9/30/23 vs 9/30/22 • CFFO(1) increased by $27MM or 22% Y/Y for the 9 months ending 9/30/23 • Including changes in working capital, cash flow from operations increased by $11MM or 8% Y/Y • Decreased price realization
Slide 7: 4Q23 Plan Guidance
4Q23 Plan Guidance Activity and Investing Guidance Production, Realizations and Cost Guidance 4Q23 4Q23 Texas Activity Net Production Gross Operated Wells Drilled # 2-3 Total MBoe/d 18.2 - 19.0 Avg. WI on Gross Oper. Wells Drilled % 99% Oil MBbls/d 13.0 - 13.5 New Mexico Activity Basis Differentials
Slide 8: Appendix
Appendix [ insert footnotes here ] 8
Slide 9: Hedging Positions as of 11/2/23
Hedging Positions as of 11/2/23 2023 2024 2025 Calendar Quarters 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q CRUDE OIL • 63% of 4Q 2023 forecasted oil production is Fixed Swap - Volume, Bbls/Qtr 437,000 195,000 225,000 225,000 225,000 45,000 285,000 - Weighted Average Price, $/Bbl $69.35 $73.35 $72.12 $72.12 $72.12 $71
Slide 10: Debt Summary
Debt Summary Principal Amount Borrowing Base at Facility Outstanding at Annual Interest Rate Amortization Final Maturity 9/30/23 9/30/23 Term SOFR + None; Company intends Sr. Secured $210MM $325MM 2.85% – 3.85%; most to periodically pay down April 2026 Credit Facility recent quarter was balance with
Slide 11: Additional Information
Additional Information Company 29 E. Reno Ave., Ste 500 Oklahoma City, OK 73104 405-415-8699 www.rileypermian.com Investor Relations Rick D’Angelo 405-438-0126 ir@rileypermian.com 11
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