Corporate Overview and Strategy Riley Permian is a growth-oriented, oil and natural gas Select Company Metrics company with operations focused in Texas and New Mexico Net Acres 58K We focus on modern horizontal drilling and completions…
Conventional Asset Base Compares Favorably to Shale (1) Riley Permians focus is on horizontal well development of conventional hydrocarbon formations on the Northwest Shelf Higher porosity and of the Permian Basin Rock Properties…
Track Record of Growth CFFO(1) FCF(2) Shareholders Equity MM MM MM 227 91 435 206 422 70 169 333 56 238 89 8 (3) (3) 2021 2022 2023 LTM 2021 2022 2023 LTM 2021 2022 2023 1Q24 1Q24 1Q24 (1) Cash Flows from…
Capital Allocation Priorities INVESTMENT SHAREHOLDER BALANCE SHEET FOR GROWTH RETURNS MANAGEMENT Organic development Opportunistic acquisitions Debt paydown Quarterly dividend(1) Complementary new Liquidity management ventures…
Reducing Capital Intensity and Increasing FCF Conversion (1) 54% 50% 66% 60% 73% 67% 79% 46% 50% 34% 40% 27% 33% 21% (2) (2) 2020 2021 2022 2023 1Q24 2024E at 2024E at (3) (3) 70 WTI 80 WTI (1) (4) (5) (4) FCF as a %…
2024 Forecasted FCF Sensitivity Based on Oil Price (1) (2) Excess cash flow for Credit Facility paydown and opportunistic investments Annual paydown on Sr. Notes (20MM per year) (3) Dividend (current level of 0.36 per share per…
Power Generation Initiatives Natural Gas Power Generator Power Purchaser Feedstock Provider Self-consume to power Texas field operations RPC Power LLC (50/50 JV between Riley Permian and Conduit LLC) Sell to Texas grid…
Power Generation Initiatives (Contd.) Self-Consume for REPX Operations Sell to the Grid Utilize low-cost natural gas for thermal power Capitalize on market dynamics including abundant, associated generation natural gas production, gas…
1Q24 Results Summary [ insert footnotes here ] 11
Highlights from 1Q24 Earnings Release 1 Production 2 Cash Flow 3 Reinvestment 4 FCF Conversion Increased oil production by 4% Generated 58MM of CFFO Reinvested 45% of CFFO into Converted 40% of CFFO to FCF Q/Q to 14.2MBbls/d with total…
Drivers of Q/Q Growth Cash Flow From Operations (CFFO)(1) Free Cash Flow (FCF)(2) Q/Q: 3 Months Ending 3/31/24 vs 12/31/23 Q/Q: 3 Months Ending 3/31/24 vs 12/31/23 FCF decreased 30% Q/Q due to higher capex(1), which more 7% increase…
Appendix [ insert footnotes here ] 14
2024 Plan Guidance: Growing While Reducing Spending Reaffirming 2024 target of 10% Y/Y oil volume growth & 10% reduction in full-year 2024 capex Activity, Production, and Investing Guidance Quarterly Detail for Estimated Realizations…
2024 Forecasted Sources and Uses Sources of Capital Uses of Capital MM MM 200 200 150 150 100 100 50 50 0 0 (1) (2) (1) (2) (1) (2) (2) (2) Incr. FCF at 90 WTI Incr. FCF at 80 WTI Incr. FCF at 70 WTI Incr. debt…
Hedging Program Summary Hedging Strategy: protect downside, meet debt convent obligations, reduce volatility and maintain upside exposure Metric Oil (WTI) Natural Gas (HH) Hedge % - Forward 12 Months(1) 53% 51% % Mix of Swaps vs…
Equity Ownership and Research Analyst Coverage Equity Ownership Research Analyst Coverage 22% Firm Analyst E-mail 21% 10% 1 Roth John White jwhiteroth.com 43% 4% (1) 2 Truist Neal Dingmann neal.dingmanntruist.com 5% Holders…
Debt Summary 51% of principal value of debt at 3/31/24 was fixed rate debt SOFR swaps in place for 80MM per quarter of notional value for 2Q24 - 1Q26, corresponding to 46% of principal value of floating-rate debt at 3/31/24(1)…
Additional Information Company 29 E. Reno Ave., Ste 500 Oklahoma City, OK 73104 405-415-8699 www.rileypermian.com Investor Relations Rick DAngelo 405-438-0126 irrileypermian.com 21
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