Riley Exploration Permian, Inc. · AMEX:REPX
Riley Exploration Permian — Q3 2023 Earnings Presentation
14 slides from Riley Exploration Permian's earnings presentation, Nov 8, 2023
Slide 1: Company Overview
Company Overview 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: Corporate Overview and Strategy
Corporate Overview and Strategy Riley Permian is a growth-oriented, oil and natural gas Select Company Metrics company with operations focused in Texas and New Mexico • We focus on modern horizontal drilling and completions applied Net Acres 44K to conventional formations in the Permian Basin • We b
Slide 4: Oil-Based, Conventional Asset Base
Oil-Based, Conventional Asset Base • Riley Permian’s focus is on horizontal well development of conventional hydrocarbon formations on the Northwest Shelf of the Permian Basin Yoakum • 44K net acres owned across Texas and New Mexico Northwest Shelf assets Lea Midland Basin • Large degree of operator
Slide 5: Riley Permian's Assets Compare Favorably to Shale
Riley Permian’s Assets Compare Favorably to Shale(1) Well Cost 5-Yr Cumulative Rock Properties Well Depth per Completed Oil Production Lateral Length per 1K ft Lateral Higher ~50-60% ~20-40% porosity and Comparable shallower less expensive permeability (1) Riley Permian well characteristics are a co
Slide 6: Track Record of Growth
Track Record of Growth 2018 – 2022 2023 19.9 • Growth over the past 5+ years • 2023 growth driven by a was driven nearly entirely by combination of organic organic development development and a sizable acquisition of New Mexico Mboe/d • 22% cumulative annual growth properties 11.5 rate 9.2 • Acquisi
Slide 7: Executing on Our 2023 Plan in the Second Half of the Year
Executing on Our 2023 Plan in the Second Half of the Year Moderating Reducing Increasing Reducing Cash Production Capital Free Cash G&A(1) per Boe Volume Expenditures(2) Flow(1) Planned decrease in 3Q/4Q23 volume Planned decrease in 2H23 given following high level in 2Q23 relative to our Administrat
Slide 8: Capital Allocation Priorities
Capital Allocation Priorities RETURN CAPITAL TO MAINTAIN & GROW DELEVER SHAREHOLDERS Reinvest to maintain and grow Strengthen balance sheet to optimize Provide sustainable and growing Objectives cash flow from operations and capital structure, maintain flexibility return of capital Free Cash Flow(1)
Slide 9: Appendix
Appendix [ insert footnotes here ] 9
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 10/31/23(1) Shares (MM) Ownership % (2) Yorktown Energy Partners 5.51 27.0% Firm Analyst Access Bluescape Energy Partners 5.22 25.6% (2) Balmon Investments 2.12 10.4% Riley Permi
Slide 11: 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 12: Managing Business Risks Amid Volatility
Managing Business Risks Amid Volatility OIL PRICE PROCUREMENT CAPITAL INTEREST RATES Capital budget materially impacted Ensuring long-term access to capital 3Q23 interest expense of $10MM 96% of 3Q23 revenue related by industry supply / demand is paramount for the Company and corresponded to 18% of
Slide 13: 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 14: 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 14
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