Riley Exploration Permian Inc. has strengthened its position in the Permian Basin with the strategic acquisition of Silverback Exploration II LLC, adding high-margin production and a deep inventory of undeveloped locations in the prolific Yeso Trend. The $142 million cash deal, first announced in May 2025, delivers 5,000 boe/d of production (52% oil, 75% liquids) and over 300 gross undeveloped drilling locations in Eddy County, New Mexico—directly adjacent to Riley Permian’s existing operations. This acquisition underscores Riley’s commitment to long-term development in the Northwest Shelf and complements its recent investment in regional midstream gas infrastructure.
Permian Basin Account Directory – $10
Includes: Account Name, Location, Phone, Website, Wells Drilled…..
Riley Exploration Permian Inc. – Acquisition Summary
Headquarters: Oklahoma City, OK
Transaction Date: Announced May 2025 | Closed Q3 2025
Acquired Company: Silverback Exploration II LLC
Asset Location: Eddy County, New Mexico (Yeso Trend)
Purchase Price: $142 million (cash)
Deal Highlights
- Production Additions:
• +5,000 boe/d (52% oil, 75% liquids) - Development Inventory:
• 300+ gross undeveloped locations - Strategic Fit:
• Assets are adjacent/overlapping with Riley Permian’s existing New Mexico position
• Strengthens long-term upstream development potential
CEO Statement
“We justified the acquisition given our long-term outlook… this deal adds significant upstream development potential and supports our decision to invest in gas midstream infrastructure in the region.”
— Bobby D. Riley, CEO & Chairman
Company Background (Pre-Acquisition as of Dec. 31, 2024):
- Net Acreage: 58,270 net acres
- Producing Wells: 612 net wells
- 2024 Avg. Production: 22,546 boe/d
- Key Areas:
• Yoakum County, Texas (NW Shelf of Permian)
• Eddy County, New Mexico
