Riley Permian Boosts 2026 Production Targets Despite Midstream Hurdles

For the period ending June 30, 2026, the Oklahoma City-based producer reported total equivalent production of 34.3 MBoe/d, with oil output reaching 21.2 MBbls/d. Financial performance remained robust, yielding $87 million in net income and $80 million in Adjusted EBITDAX. However, the company faced periodic processing limitations and well shut-ins throughout April and May, stemming from an unplanned outage at a third-party midstream facility in New Mexico. These disruptions curtailed production by approximately 1.9 MBbls/d during the quarter.

To stabilize operations, Riley Permian has contracted with Targa Northern Delaware to construct new high-pressure trunkline infrastructure in Eddy County, with an expected in-service date in the fourth quarter of 2026. CEO Bobby Riley highlighted that the firm is currently executing a growth strategy that positions it for meaningful expansion through 2027. The company is backing this outlook with a revised capital expenditure plan totaling between $230 million and $242 million for the full year, while maintaining a debt-to-Adjusted EBITDAX ratio of 1.0x.