Riley Exploration Permian Q2 revenue nearly doubles, oil output up 40%

Riley Exploration Permian

05/08/2026 22:04

Overview
U.S. oil and gas producer's Q2 revenue nearly doubled yr/yr to $166 mln
Net income for Q2 rose to $87 mln, with oil production up 40% yr/yr
Company raised 2026 oil production guidance, now implying 30% annual growth

Outlook
Company raises full-year 2026 oil production guidance to 22.5-23.5 MBbls/d, up about 30% y/y
Company expects Q3 2026 oil production of 25.1-26.1 MBbls/d and total output of 40.5-41.5 MBoe/d
Riley Permian sees 2026 capital expenditures of $230-242 mln and total investments of $239-252 mln

Result Drivers
PRODUCTION GROWTH - Co said oil production was near the high end of guidance, driven by execution of its growth strategy
OPERATIONAL DISRUPTIONS - Co said gas processing and midstream constraints in New Mexico led to temporary well shut-ins and reduced production
NEGATIVE GAS PRICES - Co said realized natural gas prices were negative due to regional pipeline constraints

Company press release: ID:nPn3VxvJGa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Oil & Gas Sales
 
$165.85 mln
 
Q2 Adjusted EBITDAX
 
$80.11 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil & gas exploration and production peer group is "buy"
Wall Street's median 12-month price target for Riley Exploration Permian Inc is $51.00, about 51.5% above its August 4 closing price of $33.66
The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 6 three months ago

Reuters Recommended Reads
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Aug 3 - Diamondback rides on higher oil prices to top profit estimates, raise output forecast

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)