Loan & DebtNov 4, 2026, 04:38 PM
Riley Permian Increases Credit Facility to $450M, Extends Maturity to 2030
AI Summary
Riley Exploration Permian, Inc. announced an Amended and Restated Credit Agreement that increases its borrowing base to $450 million and extends the maturity date to October 2030. The company also reported strong third-quarter 2026 results, with a 20% increase in oil production to 25.4 MBbls/d and operating cash flow of $111 million. Debt was reduced by 10% to $245 million, and the quarterly dividend was increased by 5% to $0.42 per share. Additionally, the company announced progress on infrastructure projects and plans for future development on its Red Lake asset.
Key Highlights
- Riley Exploration Permian amended and restated its credit agreement, increasing the borrowing base to $450 million from $425 million.
- The credit agreement extended the maturity date from December 2028 to October 2030.
- Aggregate elected commitments were increased to $450 million from $400 million, with a maximum credit amount of $1.0 billion.
- The company had $245 million of borrowings outstanding under the agreement as of October 29, 2026, leaving $205 million of availability.
- Riley Permian reported Q3 2026 oil production of 25.4 MBbls/d, a 20% increase quarter-over-quarter.
- Q3 2026 operating cash flow was $111 million, and Total Free Cash Flow was $42 million.
- The company reduced total debt by 10% quarter-over-quarter to $245 million.
- Riley Permian increased its quarterly dividend by 5% to $0.42 per share.
Price Impact
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