Riley Exploration Permian Enters Credit Agreement

Ticker: REPX · Form: 8-K · Filed: Dec 18, 2024 · CIK: 1001614

Riley Exploration Permian, Inc. 8-K Filing Summary
FieldDetail
CompanyRiley Exploration Permian, Inc. (REPX)
Form Type8-K
Filed DateDec 18, 2024
Risk Levellow
Pages3
Reading Time4 min
Key Dollar Amounts$0.001, $375,000,000, $400,000,000
Sentimentneutral

Sentiment: neutral

Topics: credit-agreement, financing, debt

TL;DR

Riley Exploration Permian just signed a new credit agreement, potentially unlocking more capital.

AI Summary

On December 13, 2024, Riley Exploration Permian, Inc. entered into a material definitive agreement, specifically a credit agreement. This agreement creates a direct financial obligation for the registrant. The filing also includes Regulation FD Disclosure and Financial Statements and Exhibits.

Why It Matters

This credit agreement likely provides Riley Exploration Permian with new or amended financing, which could impact its operational capacity and future investments.

Risk Assessment

Risk Level: low — The filing details a standard credit agreement, which is a common financial transaction for companies and doesn't inherently signal unusual risk.

Key Players & Entities

  • Riley Exploration Permian, Inc. (company) — Registrant
  • December 13, 2024 (date) — Date of earliest event reported
  • Delaware (jurisdiction) — State of incorporation
  • Oklahoma City, Oklahoma (location) — Principal Executive Offices

FAQ

What is the nature of the material definitive agreement entered into by Riley Exploration Permian, Inc. on December 13, 2024?

Riley Exploration Permian, Inc. entered into a credit agreement on December 13, 2024, which constitutes a material definitive agreement and creates a direct financial obligation for the registrant.

What is the filing date for this 8-K report?

The filing date for this 8-K report is December 18, 2024.

What is the principal executive office address for Riley Exploration Permian, Inc.?

The principal executive offices are located at 29 E. Reno Avenue, Suite 500, Oklahoma City, Oklahoma 73104.

What is the IRS Employer Identification Number for Riley Exploration Permian, Inc.?

The IRS Employer Identification Number for Riley Exploration Permian, Inc. is 87-0267438.

What are the key items disclosed in this 8-K filing?

This 8-K filing discloses the entry into a material definitive agreement, the creation of a direct financial obligation, Regulation FD Disclosure, and Financial Statements and Exhibits.

Filing Stats: 1,002 words · 4 min read · ~3 pages · Grade level 11.7 · Accepted 2024-12-18 08:34:01

Key Financial Figures

  • $0.001 — ich registered Common Stock, par value $0.001 per share REPX NYSE American Indicate
  • $375,000,000 — lenders under the Credit Facility from $375,000,000 to $400,000,000, and (c) evidence the i
  • $400,000,000 — he Credit Facility from $375,000,000 to $400,000,000, and (c) evidence the increase of the b

Filing Documents

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. Amendment to Credit Agreement On December 13, 2024, the Company entered into a sixteenth amendment (the "Amendment") to the credit facility dated September 28, 2017 (the "Credit Facility") by and among the Company, Riley Exploration – Permian, LLC, Truist Bank as Administrative Agent and the lenders from time to time party thereto. The Amendment amends the Credit Facility, among other things, to (a) extend the stated termination date of the Credit Facility to December 13, 2028 (or if any senior notes are then outstanding, the date that is 181 days prior to the earliest stated maturity date of such senior notes), (b) evidence the increase of the aggregate elected commitment amount of the lenders under the Credit Facility from $375,000,000 to $400,000,000, and (c) evidence the increase of the borrowing base under the Credit Facility from $375,000,000 to $400,000,000. Amendment to Note Purchase Agreement Concurrently with the Amendment, on December 13, 2024, the Company entered into a first amendment ("NPA Amendment") to the Note Purchase Agreement dated April 3, 2023 (the "NPA") by and among the Company, Riley Exploration – Permian, LLC, certain subsidiaries of Riley Exploration – Permian, LLC and the noteholders from time to time party thereto (the "NPA"). The NPA Amendment amends the NPA, among other things to waive the maximum pro forma leverage test for increases to the commitments under the Credit Facility, solely with respect to the commitment increase effectuated pursuant to the Amendment (as described above). These descriptions of the Amendment and the NPA Amendment are summaries and are qualified in their entirety by reference to the full text of the Amendment and the NPA Amendment, copies of which are filed herewith as Exhibits 10.1 and 10.2 and incorporated herein by reference. Certain lenders under the Credit Facility have in the past performed, and may in the future from time to time perfor

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On December 18, 2024, the Company issued a press release announcing the execution of the Amendment and the NPA Amendment. A copy of the press release is furnished as Exhibit 99.1 hereto. In accordance with General Instruction B.2. of Form 8-K, the information furnished pursuant to Item 7.01 in this Form 8-K, including Exhibit 99.1, shall not be deemed to be "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, and shall not be deemed incorporated by reference into any filing under the Securities Act, or the Exchange Act, except as expressly set forth by specific reference in such filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 10.1 Sixteenth Amendment to the Credit Agreement dated as of December 13, 2024, by and among Riley Exploration Permian, Inc., Riley Exploration - Permian, LLC, as borrower, Truist Bank, as administrative agent, and the lenders party thereto. 10.2 First Amendment to Note Purchase Agreement dated as of December 13, 2024 by and among Riley Exploration - Permian, LLC, as Issuer, Riley Exploration Permian, Inc., as Parent, each of the subsidiaries of the Issuer party thereto as guarantors, each of the holders from time to time party thereto, and U.S. Bank Trust Company, National Association, as agent for the holders. 99.1 Press release dated December 18, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. RILEY EXPLORATION PERMIAN, INC. Date: December 18, 2024 By: /s/ Philip Riley Philip Riley Chief Financial Officer

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