Riley Exploration Permian, Inc. · AMEX:REPX
Riley Exploration Permian — Q1 2024 Earnings Presentation
8 slides from Riley Exploration Permian's earnings presentation, May 9, 2024
Slide 1: 1Q24 Results Update
Ca RILEY PERMIAN ] 1Q24 Results Update May 2024
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: Highlights from 1Q24 Earnings Release
Highlights from 1Q24 Earnings Release 1 Production 2 Cash Flow 3 Reinvestment 4 FCF Conversion Increased oil production by 4% Generated $58MM of CFFO Reinvested 45% of CFFO into Converted 40% of CFFO to FCF Q/Q to 14.2MBbls/d with total and $70MM of Adjusted capital expenditures on an for $23MM in 1
Slide 4: Drivers of Q/Q Growth
Drivers of Q/Q Growth Cash Flow From Operations (CFFO)(1) Free Cash Flow (FCF)(2) Q/Q: 3 Months Ending 3/31/24 vs 12/31/23 Q/Q: 3 Months Ending 3/31/24 vs 12/31/23 FCF decreased 30% Q/Q due to higher capex, which more 7% increase Q/Q due to the factors noted below than offset the higher operating ca
Slide 5: 2024 Forecasted FCF Sensitivity Based on Oil Price
2024 Forecasted FCF Sensitivity Based on Oil Price (1) (2) Excess cash flow for Credit Facility paydown and opportunistic investments Annual paydown on Sr. Notes ($20MM per year) (3) Dividend (current level of $0.36 per share per quarter) (1) (3) FCF Yield on market value of equity $200 30% FCF Yiel
Slide 6: FCF Conversion and Allocation
FCF Conversion and Allocation (1) Reinvestment of CFFO(2) & Conversion to FCF(1) Allocation of FCF(1) Moderating reinvestment rate, while maintaining volume Increasing FCF(1) allows for debt reduction and contributions growth, leads to increasing FCF(1) conversion rate to power JV while growing the
Slide 7: 2024 Plan Guidance: Growing While Reducing Spending
2024 Plan Guidance: Growing While Reducing Spending Reaffirming 2024 target of 10% Y/Y oil volume growth & 10% reduction in full-year 2024 capex Activity, Production, and Investing Guidance Quarterly Detail for Estimated Realizations and Cost Guidance Full-Year 2Q24 2Q24 2024 Gross Operated Well Act
Slide 8: 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 8
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