Q3 2025 Riley Exploration Permian Inc Earnings Call Transcript
Key Points
- Riley Exploration Permian Inc (REPX) successfully closed the Silverback acquisition, realizing synergies by reducing costs and increasing production.
- The company generated $100 million of upstream free cash flow over the last 9 months, maintaining levels despite a 14% lower realized oil price.
- Riley Exploration Permian Inc (REPX) increased its quarterly dividend to $0.40 per share, marking the 19th consecutive quarterly dividend as a public company.
- The company achieved a total recordable incident rate of 0 in the third quarter, demonstrating a strong commitment to safe operations.
- Riley Exploration Permian Inc (REPX) reported a 22% increase in total net oil production quarter-over-quarter, with total equivalent production up 34%.
- The company experienced higher lease operating expenses (LOE) due to the integration of higher-cost Silverback vertical wells and increased workover activity.
- Riley Exploration Permian Inc (REPX) faced negative natural gas and NGL revenues after fees, reflecting a weak gas market in the Permian during September and October.
- Production taxes increased as a percentage of revenue due to a shift in volume to New Mexico, which has a higher tax rate than Texas.
- Adjusted EBITDAX margin decreased to 59% from 66% last quarter, primarily due to higher costs associated with the Silverback acquisition.
- The company anticipates potential challenges in maintaining free cash flow if oil prices remain at or below $60 per barrel, impacting capital allocation decisions.
Ladies and gentlemen, thank you for standing by. Hello. My name is Dustin, and I will be your conference operator today. At this time, I would like to welcome you to Riley Exploration Permian Inc.'s third-quarter 2025 earnings conference call. (Operator Instructions)
I would now like to turn the conference over to our CFO, Philip Riley. Please go ahead, sir.
Good morning. Welcome to our conference call covering our third-quarter 2025 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 in 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
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