Riley Exploration Permian, an oil and gas E&P focused on the San Andres formation, officially withdrew its plans for an initial public offering on Friday, citing market conditions. It had originally filed in early 2018 to raise $100 million by offering 6.7 million shares at a price range of $14 to $16, but postponed that October. The company revived its IPO plans in April 2019, but has not updated the filing until now.
The Oklahoma City, OK-based company was founded in 2016 and booked $87 million in sales for the 12 months ended March 31, 2019. It had planned to list on the NYSE under the symbol REPX. Roth Capital was set to be the sole bookrunner on the deal.
