Riley Exploration Permian Inc. (AMEX:REPX) reported fourth-quarter results on Wednesday that surpassed earnings expectations but missed Wall Street estimates for revenue.
The company’s shares edged up 0.07% in after-hours trading following the announcement.
Riley Permian reported adjusted earnings per share of $1.01 for the quarter, beating analyst expectations of $1.06. Revenue, however, came in at $97.28 million, below the consensus forecast of $110.43 million and down from $102.70 million recorded in the same quarter a year earlier.
During the quarter, the company generated $65 million in operating cash flow and $66 million in Adjusted EBITDAX. Total production averaged 35.5 thousand barrels of oil equivalent per day (MBoe/d), including oil output of 20.1 thousand barrels per day (MBbls/d), representing a 42% year-over-year increase in overall production.
Riley Permian also completed a major midstream transaction, selling its Dovetail Midstream subsidiary for $123 million in cash, with the potential to receive up to an additional $60 million tied to future volumetric performance. Proceeds from the sale were used to reduce debt by $120 million, leaving the company with a debt-to-Adjusted EBITDAX ratio of 1.0x at year-end.
“2025 was a transformational year for Riley Permian, as we made significant progress across key strategic initiatives, including inventory expansion, infrastructure build-out, and balance sheet improvement,” said Bobby Riley, Chairman and CEO.
For 2026, the company expects total production to range between 35.0 and 37.0 MBoe/d and capital expenditures of $190 million to $210 million.
The midpoint of the production outlook, 36.0 MBoe/d, indicates continued growth compared with 2025 production levels of 29.2 MBoe/d. Riley Permian also raised its quarterly dividend by 5% to $0.40 per share in October 2025 and authorized a $100 million share repurchase program.