Oklahoma City-based Riley Permian announced an increase of 30 percent to its fullyear 2026 oil production guidance. Bobby Riley, chairman and CEO, said in the company’s Q2 report that the company is “delivering oil production near the high end of guidance and building momentum for the quarters ahead.” Production in Q2 was 34,300 boed with 21,200 b/d of oil. Riley’s forecast for Q3 is 40,500 to 41,500 boed with 25,100 to 26,100 b/d of oil. Fullyear forecast is 37,500 to 38,500 boed with 22,500 to 23,500 b/d of oil.
Riley added Aug. 5, “Our outlook calls for the largest production increase of the year in the Q3 with oil production expected to grow more than 20 percent sequentially. We are encouraged by the progress … and believe the activity underway positions us for meaningful production growth throughout the remainder of 2026 and into 2027.”
Production in Q2 was 24,000 boed in Texas (15,800 b/d of oil) and 10,300 boed in New Mexico (5,400 b/d of oil). Capital expenses are $230 million-to-$242 million for 2026.