Riley Exploration Permian Business Summary

Riley Exploration Permian, Inc. (REPX) is an independent energy company primarily engaged in the acquisition, exploration, and production of oil, natural gas, and natural gas liquids within the Permian Basin, specifically targeting the San Andres formation in Yoakum County, Texas, and Eddy County, New Mexico. The company generates revenue through the direct sale of extracted hydrocarbons and maintains a dual-segment focus on upstream exploration and production (E&P) alongside strategic midstream infrastructure development. Following the $111 million sale of its Dovetail Midstream assets in late 2025, the company has pivoted toward a high-margin upstream growth strategy while retaining performance-based upside in regional midstream volumes. REPX competes directly with Permian-focused peers such as Matador Resources, Permian Resources, Chord Energy, and HighPeak Energy, positioning itself as a disciplined, small-to-mid-cap operator that prioritizes high dividend yields and free cash flow generation over aggressive acreage expansion. The leadership team is anchored by Chairman and CEO Bobby D. Riley, who founded the company’s predecessors, Riley Exploration, LLC (2007) and Riley Exploration Group (2012), bringing over 40 years of industry experience including patented well-completion technologies. He is supported by President Kevin M. Riley and Chief Financial Officer Philip Riley, the latter of whom joined in 2021 with a background in energy-focused private equity at Bluescape Energy Partners and investment banking at Lazard. Other key executives include Chief Operating Officer John Suter, a 38-year veteran and former Oklahoma State COO, and Chief Information Officer Corey Riley, a co-founder of the original Riley entities. The company’s governance is bolstered by a board of directors featuring notable industry figures such as Bryan H. Lawrence, founder of Yorktown Partners, and Bobby Saadati, CEO of IKAV Energy USA, who was appointed as an independent director in February 2026 to enhance the firm’s strategic M&A and operational oversight.