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EarningsQ2 2026 Earnings Report
REPX Q2 2026 EPS Results
Actual EPS$1.54
Consensus EPS$1.63
Beat/MissMissed by -$0.09
One Year Ago EPS$1.02
REPX Q2 2026 Revenue Results
Actual Revenue$165.85M
Expected Revenue$159.48M
Beat/MissBeat by +$6.37M
YoY Revenue Growth+94.22%
Earnings Announcement Details
QuarterQ2 2026
Date08/05/2026
TimeAfter Close
Conference CallWednesday, August 5, 2026
REPX Upcoming Earnings
Riley Exploration Permian's next earnings date is estimated for November 11, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
REPX Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a generally positive operational and strategic update: record activity, meaningful drilling and cost efficiency gains, strong safety performance, and upgraded production guidance (roughly 30% YoY). Key value-creating items included strong Silverback performance, high-return workovers adding ~700 bbl/d, and measurable unit-cost improvements across Texas and New Mexico. Near-term challenges tempering the outlook include midstream constraints that caused ~2,000 bbl/d of temporary shut-ins, higher LOE and infrastructure-driven CapEx, a substantial build in cash CapEx that compressed quarterly free cash flow to $6M, and a modest increase in debt. Management expects the Targa pipeline and WaterBridge disposal capacity to relieve constraints and support accelerated production in H2 and into 2027, and they forecast higher free cash flow in H2 than H1. Weighing the operational wins and upgraded production outlook against the midstream, cost, and cash-flow pressures, the positives modestly outweigh the negatives.Company Guidance
Record Development Activity and Production Momentum
Most active development program in company history in Q2; June oil production exit rate of 24,400 bbl/d; quarter averaged 5% sequential oil growth and management is using the June exit rate as the primary momentum indicator.
Raised Full-Year Production Outlook
Full-year oil production guidance increased and now implies approximately 30% year-over-year oil production growth; Q3 midpoint production guidance of 25,600 bbl/d is 5% above June and >20% above the full Q2 average.
Strong Safety and Operational Execution
Zero total recordable incident rate and 98% safe days in Q2; net activity included drilling 19.9 wells, completing 17.3 wells and turning 13.9 wells to sales during the quarter.
Improved Drilling Efficiency and Lower Unit Costs
Texas: average lateral footage per day improved 19% and drilling cost per lateral foot reduced 7.5% versus 2025; New Mexico: average lateral feet per day increased 67% and drilling cost per lateral foot reduced 32% versus 2023-2024 combined campaign; set Yoakum County records for 1-mile and 1.5-mile wells.
Value Creation from Silverback Acquisition
Silverback assets materially outperformed buy-side expectations: production is approximately double the initial projection without drilling new wells; monthly per-well workover costs decreased ~59% driven by fewer short runs and improved chemical surveillance.
High-Return Workovers and Cost-Saving Initiatives
Approximately $2.3M of workover spend was tied to maintenance/optimization that added ~700 bbl/d of incremental production; surface acid/chemical treatment trials saved ~$210,000 per intervention (~75% cost reduction vs downhole work) and a conservative program of 40 treatments/year could equate to ~$8.4M annual savings; New Mexico chemical program implemented in January reduced chemical costs by ~50%.
Improved Cash Generation and Capital Deployment
Operating cash flow rose 35% quarter-over-quarter to $64M; completed a small acquisition in Red Lake for $2.4M (4.0 net undeveloped locations, ~$600k per location); used $9.5M for dividends and buybacks while maintaining active capital program.
Infrastructure Progress and Timing Alignment
Targa high-pressure gathering and trunk line construction progressing (key river crossing completed); expected in-service early Q4 2026 which is being incorporated into completions sequencing to align wells with takeaway capacity.
Updated Capital and Production Guidance
Full-year CapEx midpoint increased 12% ($26M) to $236M, with roughly one-third upstream and two-thirds infrastructure; company expects higher free cash flow in H2 versus H1 based on current forecasts and commodity prices.
Power JV Early Commercialization
First 10 MW merchant generation site placed into commercial service and selling into ERCOT markets; second site selling into real-time markets and third site beginning commissioning — strategic optionality to monetize Permian gas.
REPX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed