Riley Exploration Permian (REPX) Q2 Results Top Estimates amid Operational Challenges

Riley Exploration Permian Inc. (NYSE:REPX) is one of the best energy stocks to buy for the long term. On August 6, the company delivered solid second-quarter results despite facing a challenging oil market and a regional operating environment. The company faced infrastructure constraints triggered by many operators in the Permian Basin.

Riley Exploration Permian (REPX) Q2 Results Top Estimates amid Operational Challenges

Amid the challenges, the company generated earnings per share of $1.44, better than the analyst estimate of $1.16 a share. Revenue totaled $85.39 million versus $87.25 million expected. The company generated $34 million in operating cash flow, $18 million in total free cash flow, and $21 million in upstream free cash flow.

The solid financial results followed Riley Exploration’s progress in expanding its midstream infrastructure in New Mexico. The company also commissioned the initial phases of low-pressure gathering and high-pressure compression facilities. It also entered into a purchase agreement for a high-pressure grade pipe to be delivered in 2025.

Riley Exploration Permian Inc. (NYSE:REPX) is an independent oil and natural gas company focused on acquiring, exploring, developing, and producing oil, natural gas, and natural gas liquids within the Permian Basin. It specializes in horizontal drilling of conventional, oil-saturated, and liquids-rich formations in the Permian Basin to generate long-term cash flow.

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Disclosure: None. This article is originally published at Insider Monkey.

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