CXO - IPO Update: Riley Exploration Permian Files Proposed Terms For $100 Million IPO
Quick Take
Riley Exploration Permian (REPX) intends to raise $100 million in an IPO of its common stock, per an amended registration statement.
The company is an exploration and production (E&P) firm focused primarily on oil in the Permian Basin region.
REPX has significant risk to its ability to secure low-cost takeaway capacity and faces a continuing oil price discount in the Permian region, making the IPO a questionable entry point for investors.
Company & Business
Oklahoma City, Oklahoma-based Riley Permian was formed to acquire, explore, develop and produce oil, natural gas