REPXRiley Exploration Permian, Inc.
Crude Petroleum & Natural Gas
- Revenue
- $392M
- 4.4% YoY
- Operating margin
- 34.0%
- 9.3% YoY
- EBITDA
- $226M
- 0.9% YoY
- Market cap
- $1.2B
- Employees
- 122
- $3M revenue each
- Net debt / EBITDA
- 1.1×
- $252M net debt
- AI in 10-K
- 0.2
- mentions per 10K words
Takeover score 4 of 13
Fixable underperformance 1 of 7
- TSR below peersYes4 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$3M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo132% of net incomeCash flow under 80% of net income
- Dilutive SBCNo2% of revenueOver 10% of revenue
- Payouts exceed cash flowNo16% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo—Over 40% of assets
- Shareholder dissentNo89% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeNo$3M · 59th pctBottom quartile of its SIC industry
- Quiet on AIYes0.2 per 10K words · 13th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo1.1× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedYes$1.2B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$70M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $151M | $322M | $375M | $410M | $392M | 4.4% |
| Operating income | $60M | $204M | $172M | $154M | $133M | 13% |
| Net income | −$66M | $118M | $112M | $89M | $161M | 81% |
| Operating cash flow | $86M | $170M | $207M | $246M | $213M | 14% |
| Stock-based comp | $6M | $4M | $7M | $8M | $9M | 12% |
| Dividends | $18M | $25M | $28M | $31M | $33M | 8.1% |
Deal filings
| Filed | Form | Acquirer | Price | Premium |
|---|---|---|---|---|
| Oct 21, 2015 | SC TO-T/A | ICN Fund I LLC | — | — |
| Sep 24, 2015 | SC TO-T/A | ICN Fund I LLC | — | — |
| Sep 4, 2015 | SC TO-T/A | ICN Fund I LLC | — | — |
| Sep 3, 2015 | SC TO-T/A | ICN Fund I LLC | — | — |
| Aug 7, 2015 | SC TO-T/A | ICN Fund I LLC | — | — |
| Aug 4, 2015 | SC TO-T/A | ICN Fund I LLC | — | — |
| Jul 17, 2015 | SC TO-T/A | ICN Fund I LLC | — | — |
| Jun 26, 2015 | SC TO-T | ICN Fund I LLC | — | — |
| Apr 20, 2011 | PREM14A | — | — | — |
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| May 28, 2026 | Yorktown Energy Partners XI, L.P. | SCHEDULE 13D/A | 5.9% | Passive |
| Apr 9, 2026 | Riley Exploration Group, LLC | SCHEDULE 13D/A | 3.3% | Passive |
| Mar 26, 2026 | Bluescape Riley Exploration Holdings LLC | SCHEDULE 13D/A | 24.5% | Passive |
| Mar 18, 2026 | Bluescape Riley Exploration Holdings LLC | SCHEDULE 13D/A | 6.1% | Passive |
| Mar 13, 2026 | Bluescape Riley Exploration Holdings LLC | SCHEDULE 13D/A | 7.2% | Passive |
| Mar 11, 2026 | Bluescape Riley Exploration Holdings LLC | SCHEDULE 13D/A | 8.4% | Passive |
| Mar 9, 2026 | Bluescape Riley Exploration Holdings LLC | SCHEDULE 13D/A | 9.4% | Passive |
| Mar 6, 2026 | Bluescape Riley Exploration Holdings LLC | SCHEDULE 13D/A | 11.9% | Passive |
| Feb 19, 2026 | Riley Exploration Group, LLC | SCHEDULE 13D/A | 7.8% | Passive |
| Feb 10, 2026 | Bluescape Riley Exploration Holdings LLC | SCHEDULE 13D/A | 16.8% | Passive |
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $70M · 43
- Net
- −$70M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $6M | $5M | 268 | 300 |
| FY2024 | $4M | $4M | 323 | 315 |
| FY2023 | $3M | $3M | 276 | 325 |
| FY2022 | $2M | $4M | 298 | 323 |
| FY2021 | $1M | $880K | 196 | 228 |