Riley Permian Posts Strong Q2 Earnings Growth Amid Midstream Challenges

Riley Permian's second-quarter earnings report shows significant growth in production and revenue. The company reported Q2 2026 revenue of $165.9 million, a 94% increase from $85.4 million in Q2 2025. This growth is attributed to higher oil production, which rose by 40% to 21.2 MBbls/d, and an average realized oil price that increased to $94.28 per barrel.

The company's total equivalent production also saw a significant increase of 41% to 34.3 MBoe/d. However, the production was affected by a midstream outage in New Mexico, which reduced gas takeaway capacity and forced temporary well shut-ins in April and May. Riley Permian estimates that this disruption decreased second-quarter production by approximately 1.9 MBbls/d.

The company's adjusted EBITDAX increased to $80.1 million, a 35% rise from Q2 2025. However, total free cash flow fell to $6.3 million as cash capital expenditures exceeded operating cash flow.