Riley Permian Q2 net income more than doubled to $87 million; revenue rises to $166 million
REPX•Q2 results and production
Riley Exploration Permian posted Q2 net income of $87.37 million, or $4.11 per diluted share, as revenue climbed to $166 million.
Operating cash flow rose to $64 million, while total cash capital expenditures reached $68.29 million.
Total production averaged 34,264 Boe/d, including 21,242 bbl/d of oil; June oil output was 24,400 bbl/d.
New Mexico volumes were hit by midstream constraints and temporary shut-ins, cutting Q2 production by about 1,900 bbl/d.
Updated full-year guidance
Full-year guidance was raised, with oil seen at 22,500-23,500 bbl/d and total capital expenditures at $230 million-$242 million.
