Riley Exploration Permian: Likely To Generate Over $100 Million In 2024 FCF [Seeking Alpha]
Riley Exploration Permian, Inc. (REPX)
Company Research
Source: Seeking Alpha
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. Looking for a helping hand in the market? Members of Distressed Value Investing get exclusive ideas and guidance to navigate any climate. Learn More » Based on Riley Exploration Permian's ( NYSE: 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. I last looked at Riley back in September 2023 , and I am upgrading it from a hold to a buy now. Riley's share price has gone down by over 10% since the end of September 2023, but it has exceeded my expectations in terms of production and debt reduction (both for 2H 2023 actuals and its 2024 guidance). I now estimate Riley's value at approximately $35 per share at long-te
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REPX
News
- Riley Permian Declares Quarterly Dividend and Schedules First Quarter 2024 Earnings Release and Conference CallPR Newswire
- Cramer's Lightning Round: Medtronic is a buy [CNBC]CNBC
- Riley Permian Announces Participation in Fireside Chat with Water Tower ResearchPR Newswire
- Riley Permian Announces Pricing of Public Offering of Common StockPR Newswire
- Riley Permian Announces Commencement of Public Offering of Common Stock [Yahoo! Finance]Yahoo! Finance
REPX
Earnings
- 3/6/24 - Beat
REPX
Sec Filings
- 4/26/24 - Form 8-K
- 4/25/24 - Form 4
- 4/22/24 - Form DEF
- REPX's page on the SEC website