Riley Permian to spend $4,500,000.00 to occupy 8,000 square feet of space in Oklahoma City Oklahoma.
Oklahoma City, Oklahoma — According to state and local development sources, Riley Permian plans to invest $4,500,000.00 to build out 8,000 square feet of new space in Oklahoma City. The company plans to occupy the new space at 29 E Reno Ave in Oklahoma City, on or about April 1, 2024. According to the company website Riley Exploration Permian, Inc. (NYSE American: REPX) is headquartered in Oklahoma City and is focused on capital efficiency and the steady growth of its reserves, production and cash flow through the acquisition, exploration, development and production of reserves primarily within the Permian Basin that strategically fit our corporate objectives of: building a well-balanced, transparent, and sustainable company, favorable reservoir and geological characteristics primarily for oil development, large contiguous acreage positions with significant untapped potential in terms of ultimate recoverable reserves and a high degree of operational control, which allows REPX to execute its development plan based on projected well performance and commodity price forecasts in order to attempt to grow cash flow and generate significant equity returns from REPX’s capital program REPX believes these characteristics enhance its horizontal production capabilities, recoveries and commercial outcomes, which enables REPX to meet its objective to maximize shareholder returns by generating stable free cash flow through steady oil-weighted production growth and industry-leading operating margins. Free cash flow will be allocated towards capital return to shareholders in the form of a quarterly cash dividend and/or capital spend to maximize production growth. REPX’s acreage is primarily located on large, contiguous blocks in Yoakum County, Texas and Eddy County, New Mexico.
To learn more about Riley Permian, visit http://www.rileypermian.com/
Company Contact:
Philip Riley, Chief Financial Officer
https://www.linkedin.com/in/philip-riley-743a0b3/
405-415-8699
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