Riley Exploration reports Q1 adjusted EPS $1.61 vs. $1.60 last year

Reports Q1 revenue $100M, consensus $96.43M. Averaged 20.4 MBoe/d of total equivalent production, (oil production of 14.2 MBbls/d. “Our Company had a strong start to the year with both operational and financial performance during the first quarter,” said Bobby D. Riley, Chief Executive Officer and Chairman of the Board. “We’re experiencing improved cycle times and efficiencies in our development activities, leading to measurable cost savings. We continue to prioritize free cash flow generation which allows for debt reduction and direct shareholder return through dividends. Finally, we recently closed on the previously announced acquisition in New Mexico, contiguous to our existing New Mexico assets, which adds valuable development inventory in the region.”