We hosted a fireside chat with Chairman, President, and CEO Bobby Riley and CFO Philip Riley on April 10, 2024, to discuss Riley’s strategy of delivering value from its conventional asset base in the Permian Basin. This report contains a transcript of the conversation, which can be accessed on demand. Link is accessible in our full report. Riley’s business focuses on acquiring, developing, and producing oil from conventional formations with significant volumes of original oil in place. Managemen...
Riley’s asset base delivered 22% Y/Y organic growth in net operated oil production in FY23 from reinvesting about two-thirds of discretionary cash flow into the ground. Solid growth reflects the manageable capital intensity of the company’s conventional oil-producing assets in the Permian Basin. The midpoints of management’s FY24 capital and operating guidance imply that Riley expects to increase oil production ~10% Y/Y from a capital program that is ~10% lower than FY23. The midpoint of managem...
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