REPX - Riley Exploration Permian: Likely To Generate Over $100 Million In 2024 FCF

2024-03-13 06:29:21 ET

Summary

• Riley Exploration Permian is projected to generate $119 million in 2024 free cash flow at the current strip.
• This free cash flow generation is combined with mid-to-high single-digit production growth from 2H 2023 levels.
• The Company's leverage should drop below 1.0x by late 2024.
• I have increased REPX's estimated value to $35 per share.

Based on Riley Exploration Permian's ( REPX ) guidance , it may be able to generate $119 million in free cash flow in 2024 at current strip prices, while also growing production by mid-to-high single digits from 2H 2023 levels....

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