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Riley Exploration Permian (REPX) investor relations material
Riley Exploration Permian Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Closed the Silverback acquisition in July 2025, adding 47,000 net acres in Eddy County, NM, and integrating assets, which drove production and cost synergies exceeding expectations.
Achieved significant production and cash flow growth, with Q3 2025 oil production up 21% quarter-over-quarter and 19% year-over-year to 18.4 MBbls/d, and total equivalent production at 32.3 MBoe/d.
Increased quarterly dividend by 5% to $0.40 per share, marking the 19th consecutive quarterly dividend and a 6.1% annualized yield.
Strategic focus on value creation, capital discipline, and resilience through commodity cycles, with consistent capital returns to shareholders.
Core operations in Texas and New Mexico, focused on horizontal drilling and maximizing shareholder returns.
Financial highlights
Q3 2025 revenues were $107 million, with net income of $16 million ($0.77 per diluted share), and adjusted EBITDAX of $64 million (59% margin).
Generated $64 million in operating cash flow and $25 million in total free cash flow in Q3 2025; LTM free cash flow reached $97 million.
Upstream free cash flow for Q3 was $39.4 million, representing 73% conversion of operating cash flow before working capital.
Debt at quarter end was $375 million, with 1.3x leverage based on pro forma adjusted EBITDA.
Quarterly dividends declared totaled $8.4 million in Q3 and $24.9 million for the nine months.
Outlook and guidance
Raised Q4 2025 oil production guidance by 4% at midpoint to 19.2 MBbls/d; full-year oil production guidance up 2% at midpoint to 17.1 MBbls/d.
Maintained full-year capital expenditures guidance at $92 million, with Q4 2025 production guidance of 32.9–33.9 MBoe/d total and 18.7–19.7 MBbls/d oil.
Over 60% of 2026 oil volumes hedged at a weighted average downside price of $60, with robust hedging for 2025 and 2026.
Committed to $130 million in capital expenditures through 2026 for midstream buildout in New Mexico.
Guidance reflects flexibility to respond to commodity price volatility and market conditions.
Projected FCF contribution from 2026 midstream/power
Assess Silverback's contribution to LOE efficiency
Justify non-upstream capex proportion in 2025 guidance
Silverback asset: remaining optimization
Midstream project financing strategy
Capital allocation below $60 oil
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Next Riley Exploration Permian earnings date
Q4 20254 Mar, 2026
Next Riley Exploration Permian earnings date
Q4 20254 Mar, 2026
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Frequently asked questions
Riley Exploration Permian Inc. is an independent oil and natural gas company focused on the acquisition, exploration, and development of properties in the Permian Basin, primarily in West Texas and Southeast New Mexico. The company concentrates on the efficient extraction of oil and natural gas from its assets, utilizing advanced drilling and completion technologies. The company is headquartered in Oklahoma City, Oklahoma, and its shares are listed on the NYSE.
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