Riley Exploration Permian Inc Dossier
Qualitative Analysis
Business overview
Riley Exploration Permian, Inc. (NYSE American: REPX) is a growth-oriented, independent oil and natural gas company focused on the acquisition, exploration, development, and production of conventional oil-saturated and liquids-rich reservoirs in the Permian Basin. The company's core operations are concentrated on contiguous acreage blocks in Yoakum County, Texas, and the Yeso trend in Eddy County, New Mexico. REPX utilizes horizontal drilling techniques to target the San Andres formation and other conventional plays, aiming to generate sustainable, long-term cash flows and maximize shareholder returns.
Research as of 19 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
Expansion of the RPC Power, LLC joint venture with Conduit Power, LLC (in which Riley Permian increased its ownership from 35% to 50%). The project utilizes Riley's produced natural gas to generate behind-the-meter power for oilfield operations and sell dispatchable power and ancillary services to the ERCOT grid.
Expected impact: Stabilizes electricity costs for operations, mitigates regional gas egress limitations by converting low-value gas to power, and diversifies the company's revenue mix.
Accelerating horizontal drilling and completion activities across core assets in Yoakum County, Texas (Champions field) and Eddy County, New Mexico (Red Lake field) to drive organic volume growth.
Expected impact: Targets approximately 30% annual oil production growth for 2026, raising oil production to a midpoint of 22.5 MBbls/d.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Recent Acquisitions
Acquisition of producing assets and approximately 47,000 acres directly adjacent to and overlapping with Riley's existing acreage in Eddy County, New Mexico. The transaction provides significant operational flexibility, synergies, and adds approximately 300 prospective undeveloped drilling locations.
Financial impact: Enhanced depth and duration of undeveloped inventory to 7-8 years of high cash-on-cash return locations. Includes contingent payments of up to $1.9 million per quarter in 2026 and 2027 if average WTI prices exceed thresholds of $70 to $75 per barrel.
Strategic Partnerships
High. Allows Riley Permian to co-own and operate power generation assets, converting associated natural gas into electricity to power operations and sell to the ERCOT grid.
Terms: Riley Permian holds a 50% ownership stake in the JV and has agreed to sell up to 10 MMcf/d of natural gas to RPC Power as feedstock supply.