REPX - Riley Exploration Permian Expands Power Generation JV To Make Better Use Of Natural Gas

2024-06-04 06:37:03 ET

Summary

• Riley's Q1 2024 production ended up towards the high-end of expectations.
• It then made an acquisition that adds around 1,100 BOEPD in production, so full-year production should end up near the high-end of guidance too.
• Riley expanded the scope of its power generation JV to sell power to ERCOT.
• It is aiming for 100MW of natural gas power generation, which would use up a significant amount of its natural gas production.
• This should add a bit of value to Riley, given that it makes minimal revenues from its natural gas currently.

Riley Exploration Permian ( REPX ) reported pretty solid Q1 2024 results and then later announced an expansion of the scope of its power generation JV....

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