M&A - Riley Exploration Permian, Inc.

Form Type: 8-K

Filing Date: 2025-07-02

Corporate Action: Acquisition

Type: New

Accession Number: 000100161425000034

Filing Summary: On July 1, 2025, Riley Exploration - Permian, LLC, a wholly-owned subsidiary of Riley Exploration Permian, Inc., completed its acquisition of 100% of the ownership interests in Silverback Exploration II, LLC and its subsidiaries, which own oil and natural gas assets primarily located in the Yeso trend of the Permian Basin in Eddy County, New Mexico. The total purchase price for the acquisition was approximately $142 million, subject to customary purchase price adjustments, with additional quarterly earnout payments of up to $1,875,000 for fiscal quarters in 2026 and 2027, contingent upon the NYMEX WTI quarterly average exceeding specified thresholds. This transaction was funded through a combination of borrowings from the Company's revolving credit facility and available cash. Following the acquisition, the Company issued a press release on July 2, 2025, announcing the completion of the transaction. The details of the acquisition are governed by a securities purchase agreement dated May 3, 2025.

Form Type: 10-Q

Filing Date: 2025-05-07

Corporate Action: Acquisition

Type: New

Accession Number: 000100161425000026

Filing Summary: Riley Exploration Permian, Inc. reported its financial results for the quarter ended March 31, 2025. The total number of shares outstanding as of May 2, 2025, was 22,023,036. The company experienced revenues of $102,457,000 from oil and natural gas sales, demonstrating growth compared to the previous year. The total costs and expenses amounted to $52,955,000, leading to a net income of $28,633,000 for the quarter. The balance sheet shows total assets of $994,944,000 and total liabilities of $462,561,000. The company disclosed ongoing operational challenges including volatility in oil and natural gas prices, regulatory changes, and the integration of acquired assets from a recent acquisition in New Mexico. Overall, the financial performance reflects a strong operational capacity amid market uncertainties.

Form Type: 8-K

Filing Date: 2025-05-07

Corporate Action: Acquisition

Type: New

Accession Number: 000100161425000025

Filing Summary: On May 3, 2025, Riley Exploration - Permian, LLC, a wholly-owned subsidiary of Riley Exploration Permian, Inc., entered into a securities purchase agreement to acquire 100% ownership of Silverback Exploration II, LLC and its subsidiaries for approximately $142 million. This acquisition involves oil and natural gas assets located in the Yeso trend of the Permian Basin in Eddy County, New Mexico. The deal is subject to customary closing conditions and adjustments. An initial payment of $14.2 million will be deposited into an escrow account, credited against the purchase price. Closing is anticipated in early Q3 2025 with an effective date of January 1, 2025. Alongside this, the company released its financial results for Q1 2025, stating its performance and updated information regarding the acquisition in the earnings press release dated the same day, May 7, 2025.