Riley Exploration initiated with an Outperform at William Blair

William Blair initiated coverage of Riley Exploration (REPX) with an Outperform rating. Riley’s unique assets and efficient operations provide solid free cash flow even when oil prices are relatively weak, says the analyst, who sees further upside potential from the company’s power joint venture and New Mexico gas midstream assets. The firm sees a strong balance sheet and stable activity resulting in “continued solid shareholder return,” the analyst tells investors.