Riley Exploration Permian, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 03:54 am IST
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Riley Exploration Permian, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 108.29 million compared to USD 88.07 million a year ago. Net income was USD 8.65 million compared to USD 59.82 million a year ago. Basic earnings per share from continuing operations was USD 0.44 compared to USD 3.06 a year ago. Diluted earnings per share from continuing operations was USD 0.43 compared to USD 3.05 a year ago.
For the nine months, revenue was USD 275.22 million compared to USD 243.7 million a year ago. Net income was USD 73.57 million compared to USD 91.2 million a year ago. Basic earnings per share from continuing operations was USD 3.74 compared to USD 4.67 a year ago. Diluted earnings per share from continuing operations was USD 3.68 compared to USD 4.65 a year ago.
Riley Exploration Permian, Inc., together with its subsidiaries is an independent oil and natural gas company. The Company is focused on the acquisition, exploration, development and production of oil, natural gas, and natural gas liquids. The Company focuses on horizontal drilling and completions applied to conventional formations in the Permian Basin. The Permian Basin is an oil and natural gas producing area located in West Texas and the adjoining area of Southeastern New Mexico covering an area approximately 250 miles wide and 300 miles long, and encompasses several sub-basins, including the Delaware Basin, Midland Basin, Central Basin Platform and Northwest Shelf. The San Andres Formation is a shelf margin deposit composed of dolomitized carbonates. Its acreage is primarily located on large contiguous blocks in Yoakum County, Texas, which represents its Champions Field and Eddy County, New Mexico.
RILEY EXPLORATION PERMIAN, INC. 
