Riley Exploration Permian, Inc. (REPX) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and welcome to Riley Exploration Permian First Quarter 2026 Earnings Conference Call. At this time, all participants are in a listen-only mode. Following the formal presentation, there will be an opportunity to ask questions. To ask a question, please press star 1. Please note that this conference is being recorded. It is now my pleasure to introduce your host, Philip Riley, our Chief Financial Officer. Good morning. Welcome to our conference call covering our first quarter 2026 results. I'm Philip Riley, CFO. Joining me today are Bobby Riley, Chairman and CEO, and John Suter, COO. Yesterday we published a variety of materials which can be found on our website under the Investors section. These materials and today's conference call contain certain projections and other forward-looking statements within the meaning of the federal securities laws. These statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in these statements. We'll also reference certain non-GAAP measures. The reconciliations to these appropriate GAAP measures can be found in our supplemental disclosure on our website. I'll turn the call over to Bobby. Thank you, Philip. In March, we announced that Riley Permian would accelerate growth in 2026, which was a natural result from our multi-year positioning, including deliberate inventory expansion and infrastructure readiness. Our 2026 development plan was designed when the WTI spot price and one-year forward price were in the $60 range, and we saw meaningful value creation potential. at those price levels. Since then, the oil supply picture and price outlook have changed completely. We have increased confidence in achieving our planned targets and the corresponding va...