Riley Exploration Permian, Inc. (NYSE:REPX) Q1 2023 Earnings Conference Call May 9, 2023 10:00 AM ET

Company Participants

Philip Riley - Chief Financial Officer

Bobby Riley - Chairman and Chief Executive Officer

Kevin Riley - President

Conference Call Participants

Neil Dingmann - Truist Securities

Noel Parks - Tuohy Brothers Investment Research

Operator

Hello and thank you for standing by. My name is Jeremy and I will be your conference operator today. At this time, I would like to welcome everyone to the Riley Exploration Permian Incorporated's Q1 2023 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks there will be a question-and-answer session. [Operator Instructions]

I would now like to turn the call over to the CFO, Philip Riley.

Philip Riley

Thank you, and good morning to everyone. Welcome to our conference call covering the first quarter 2023 results. Yesterday, the company published a number of items which can be found on our website under the Investors section, an earnings release, supplemental info and non-GAAP measures and two presentations. One of which provides an update for first quarter results, with the second providing a company overview. We plan to file our 10-Q on Wednesday.

Participating on the call today are Bobby Riley, Chairman and CEO; Kevin Riley, President, and me, Philip Riley, CFO and EVP of Strategy.

Today's conference call contains certain projections and other forward-looking statements within the meaning of the federal securities laws. These statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in these statements. We will also reference certain non-GAAP measures. The reconciliations to the appropriate GAAP measures can be found in our supplemental disclosure on our website.

I'll now turn the call over to Bobby.

Bobby Riley

Thank you, Philip. Good morning and thank you for joining us today on our Q1 2023 earnings call. I'm pleased to report that the company remains focused on optimizing our core business, and I believe we are off to a great start in 2023. Although we gave a lot of attention during Q1 to the New Mexico acquisition, we were still able to meet or even surpass the targets we had previously announced for the quarter.

In addition to our ongoing development of our core assets, subsequent to closing the acquisition on April the 3rd, we have commenced development activities in New Mexico with plans to bring on additional wells early in the third quarter. The New Mexico acquisition marks a major milestone for the company and we are excited about the opportunities it brings for long-term growth and value creation for our shareholders.