REPX - Riley Exploration Permian to offer shares; size not determined

Riley Exploration Permian (REPX) -8.6% post-market after launching a public offering of common shares, with an underwriters option to purchase up to an additional 15%; the size of the planned offering is not stated.Riley says it plans to use ~$25M of the proceeds to accelerate its enhanced oil recovery pilot program, including funding capital spending related to drilling, completions and infrastructure; the rest will be applied to general corporate purposes.The company says its EOR pilot program encompasses a 960-acre project area in Yoakum County, Texas.

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Riley Exploration Permian to offer shares; size not determined