Solid Strategy Drives Shareholder Value
We hosted a fireside chat on May 18, 2023, with Riley Exploration Permian. We were joined by Chairman and CEO Riley, President Kevin Riley, and CFO Philip Riley. Riley has concentrated on acquiring and developing conventional assets in the Permian Basin. The Champions Area covers ~30,500 net acres on the Northwest Shelf portion of the Permian Basin in Yoakum County targeting horizontal development of the San Andres Formation. On April 3, 2023, the company closed the $330-million acquisition of assets located on the Northwest Shelf in Eddy County, New Mexico... The New Mexico acquisition affords the opportunity for Riley to leverage its technical skillset across two core areas with similar operating characteristics. Management believes a second core area could result in a more continuous capital program and yield operational synergies. This report contains a transcript of the fireside chat from May 18, 2023, which can be accessed on demand on our website or in this report.
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