Riley Exploration reports Q4 non-GAAP EPS 96c, consensus $1.52

Reports Q4 revenue $103M, consensus $103.87M. Averaged 25.0 MBoe/d of total equivalent production – oil production of 15.9 MBbls/d -. CEO Bobby Riley stated “We had an exceptional year by all measures, and I am extremely proud of what our team has accomplished. At the outset of 2024, we announced a plan to grow oil production by 10% while cutting capital expenditures by 10%. Our actual performance materially exceeded these goals, with oil production growth of 15% and total production growth of 22%, combined with a reduction in upstream cash capital expenditures of 27%. Such performance combined with operating cost-structure improvement led to 67% annual growth in Total Free Cash Flow and 82% growth in annual Upstream Free Cash Flow…Moving to 2025, we will invest strategically across our business with a focus on securing our future long-term growth. We continue to experience efficiency improvements in our upstream business, and this year we plan to shift increased development activity to New Mexico. We are excited to advance our New Mexico gas midstream project, which we believe will afford us increased operational control of our gas gathering and regional transportation and provide greater flow assurance for long-term growth from our New Mexico assets. Finally, we’re progressing with our power projects within our joint venture and continue to see attractive market fundamentals in ERCOT.”