Riley Exploration Permian, Inc. (AMEX:REPX) Q1 2023 Earnings Call Transcript

Philip Riley: Yes, I appreciate that Mill. We have, as mentioned, we have commenced development on our first two horizontal wells out there. We’re drilling four in the next, I guess this first campaign out there underneath Riley, two of which have been done. We see opportunities to utilize some of what we’ve learned in Champions to reduce days drilling to hopefully complete the wells more efficiently and drive costs down. We see the opportunity in the second half of the year to share a rig between the two locations of which we plan to do and also some additional services. We’ve also, having larger economy of scale allows us for more negotiating power with buying inventory to develop these wells in the future.

Operator: All right. Are there any final questions? All right. If there are no further questions; that will conclude today’s conference call. You may now disconnect.