Riley Exploration Permian, Inc. (REPX) SEC Filings & Earnings Calls

Non-cash loss on extinguishment of debt from write-off of unamortized discount and deferred financing costs.

“expects to recognize a non-cash loss on extinguishment of debt related to the write-off of the remaining unamortized discount and deferred financing costs” · word for word

Midstream constraints in New Mexico due to third-party outage reduced Q2 production by ~1.9 MBbls/d; new Targa pipeline expected Q4 2026.

“Certain portions of our New Mexico operations were impacted during April and May of the second quarter of 2026 by ongoing gas processing and midstream constraints following an unplanned outage at a third-party facility beginning in late March. We estimate the temporary shut-ins reduced second quarter production by approximately 1.9 MBbls/d.”

Negative realized natural gas prices due to Waha basis differential and pipeline constraints, partially offset by higher NGL pricing.

“Realized natural gas prices were negative before gathering, processing and transportation costs due to Waha pricing being negatively impacted from ongoing regional pipeline constraints.”

Debt increased by $26 million in the quarter, with leverage ratio of 1.0x, manageable but increasing.

“Increased debt by $26 million with a quarter-end debt-to-Adjusted EBITDAX ratio of 1.0x.”

Midstream Disruption

“During the second quarter of 2026, certain portions of our New Mexico operations continued to experience production interruptions and curtailments resulting from third-party midstream and gas processing constraints.” · word for word

Commodity Price Volatility

“Commodity prices remain volatile.” · word for word

Interest Rate Sensitivity

“Increased interest rates could have the effects of raising our cost of capital and the potential for depressing economic growth, either of which (or the combination thereof) could hurt the financial and operating results of our business.” · word for word

Potential dilution from increased share authorization may pressure EPS and shareholder value.

“The Amended Plan increased the aggregate number of shares available for issuance under the plan by 2,800,000 shares (from 2,337,022 to 5,137,022 shares).”

Midstream disruption risk

“an unplanned outage at a third-party gas processing facility in New Mexico operated by one of our midstream counterparties required us to shut in a significant portion of our New Mexico production.” · word for word

Negative basis differentials due to pipeline constraints

“realized natural gas prices before GP&T costs decreased by $2.92, which was the result of an increase in the negative basis differentials due to regional pipeline constraints.” · word for word

Commodity price volatility

“Commodity prices remain volatile.” · word for word

Negative gas and NGL realizations due to Waha pipeline constraints

“Realized natural gas prices ... negatively impacted by Waha pricing and wider differentials to Henry Hub driven by ongoing regional pipeline constraints”

Large non-cash derivative loss

“$115 million non-cash loss due to the changes in the fair value of derivatives” · word for word

Commodity price volatility risk.

“Realized oil price of $57.18/bbl, down from prior periods; sensitivity to oil prices.”

Produced Water Regulation

“Recent regulatory restrictions on use of produced water and a moratorium on new produced water disposal wells in certain areas of the Permian Basin to stem rising seismic activity and earthquakes could increase our operating costs and adversely impact our business, results of operations and financial condition.” · word for word

Commodity Price Volatility

“An extended decline in commodity prices may adversely affect our business, financial condition, or results of operations and our ability to meet our capital expenditure obligations and financial commitments.” · word for word

Customer Concentration

“One purchaser accounted for 60% of our revenues and another purchaser accounted for 30% of our revenues for the year ended December 31, 2025.” · word for word

Infrastructure Bottleneck

“bottlenecks in processing and transportation that have occurred in some recent periods in the Permian Basin may negatively affect our results of operations” · word for word

Reserve Replacement Risk

“Unless we replace our reserves with new reserves and develop those reserves, our reserves and production will decline, which would adversely affect our future cash flows and results of operations.” · word for word

Loss of midstream revenue stream

“sale of midstream assets may reduce future revenue and cash flow from that segment”

Loss of midstream revenue stream; reliance on Targa for flow assurance.

“sold to Buyer all of the membership interests in Dovetail Midstream, LLC” · word for word

Commodity price volatility

“Commodity prices remain volatile. General domestic and international economic, market and political conditions... could prolong market volatility and continue to cause a decline in commodity prices.” · word for word

Inflation and interest rate risk

“Inflation continues to be an ongoing concern... Increased interest rates could have the effects of raising our cost of capital and the potential for depressing economic growth.” · word for word

Acquisition integration risk

“Transaction costs of $2.8 million and $4.7 million for the three and nine months ended September 30, 2025, are primarily related to the Silverback Acquisition.” · word for word

Debt increase from acquisition funding may pressure balance sheet if commodity prices decline.

“Total debt increased by $91 million to $375 million, primarily from Credit Facility proceeds of $125 million to fund Silverback acquisition.”

Midstream and power projects have execution risk; capex may exceed initial estimates.

“Midstream capital expenditures on cash basis ($14M) exceeded accrual basis ($5M) due to deposits; total cash capex to date $31.4M vs accrual $26.5M.”