Riley Exploration Permian, Inc. · AMEX:REPX
Riley Exploration Permian — Q2 2023 Earnings Presentation
12 slides from Riley Exploration Permian's earnings presentation, Aug 8, 2023
Slide 1: 2Q23 Results Update
2Q23 Results Update August 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: 2Q23 Select Highlights
2Q23 Select Highlights 1 Closed a transformative acquisition of oil and natural gas assets in New Mexico Increased oil production by 80% year-over-year versus 2Q22, driven by the acquisition 2 and organic growth 3 Generated $66MM of Adjusted EBITDAX(1) and $56MM of operating cash flow 4 Paid cash di
Slide 4: 2Q23 Performance vs. Prior Guidance
2Q23 Performance vs. Prior Guidance Activity and Investing Guidance Production, Realizations and Cost Guidance 2Q23 2Q23 2Q23 2Q23 Guidance Actuals Guidance Actuals Texas Activity Net Production Gross Operated Wells Drilled # 2-4 3 Total MBoe/d 20.0 - 21.0 21.2 Avg. WI on Gross Oper. Wells Drilled %
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 6/30/23 vs 3/31/23 • CFFO(1) increased by $14.1MM or 38% Q/Q, driven primarily by materially higher volumes • The impact of lower pricing was mostly offset by reduced negative hedge settlements • Interest expense
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: 6 Months Ending 6/30/23 vs 6/30/22 • CFFO(1) increased by $14.8MM or 20% Y/Y • Cash flow from increased volumes were more than offset by lower prices • However, lower hedge settlements Y/Y offset ~45% of pricing declines (1) (1) (1
Slide 7: Updated 2023 Plan Guidance
Updated 2023 Plan Guidance Activity and Investing Guidance Production, Realizations and Cost Guidance F ull-Y ear 2 0 2 3 F ull-Y ear 2 0 2 3 3 Q2 3 3 Q2 3 Prior Updated Prior Updated Tex as Activity N et Production Gross Operated Wells Drilled # 4 13 - 15 13 Total MBoe/d 18.6 - 19.8 18.4 - 19.2 18.
Slide 8: Appendix
Appendix [ insert footnotes here ] 8
Slide 9: Hedging Positions as of 8/4/23
Hedging Positions as of 8/4/23 2023 2024 2025 Calendar Quarters 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q CRUDE OIL Fixed Swap - Volume, Bbls/Qtr Weighted Average Price, $/Bbl 437,000 $68.18 392,000 $68.06 150,000 $71.17 180,000 $70.37 180,000 $70.37 180,000 $70.37 45,000 $71.25 90,000 $68.16 • 59% of 3Q-4Q 2023 fore
Slide 10: Equity Ownership and Research Analyst Coverage
Equity Ownership and Research Analyst Coverage Equity Ownership Research Analyst Coverage > 5% Holders and Insiders as of Shares 6/30/23(1) (MM) Ownership % Yorktown Energy Partners(2) 5.51 27.3% Firm Analyst Access Bluescape Energy Partners 5.22 25.9% Balmon Investments(2) 2.02 10.0% 1 Roth John Wh
Slide 11: Debt Summary
Debt Summary Principal Amount Borrowing Base at Facility Outstanding at Annual Interest Rate Amortization Final Maturity 6/30/23 6/30/23 Term SOFR + None; Company intends Sr. Secured $215MM $325MM 2.85% - 3.85%; most to periodically pay down April 2026 Credit Facility recent quarter was balance with
Slide 12: Additional Information
Additional Information Company www.rileypermian.com 29 E. Reno Ave., Ste 500 Oklahoma City, OK 73104 Investor Relations Direct: 405-415-8699 ir@rileypermian.com 12
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