# EDGAR Filing Document

**Accession Number:** 0001001614
**File Stem:** 0001001614-26-000036
**Filing Date:** 2026-5
**Character Count:** 24280
**Document Hash:** bc9d45cd2e302f299eeb1d1a82e34839
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001001614-26-000036.hdr.sgml**: 20260514

**ACCESSION NUMBER**: 0001001614-26-000036

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 17

**REFERENCES 429**: 333-253750

**REFERENCES 429**: 333-271415

**FILED AS OF DATE**: 20260514

**DATE AS OF CHANGE**: 20260514

**EFFECTIVENESS DATE**: 20260514

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Riley Exploration Permian, Inc.
- **CENTRAL INDEX KEY:** 0001001614
- **STANDARD INDUSTRIAL CLASSIFICATION:** CRUDE PETROLEUM & NATURAL GAS [1311]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 870267438
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-295900
- **FILM NUMBER:** 26979947

**BUSINESS ADDRESS:**
- **STREET 1:** 29 E. RENO AVENUE
- **STREET 2:** SUITE 500
- **CITY:** OKLAHOMA CITY
- **STATE:** OK
- **ZIP:** 73104
- **BUSINESS PHONE:** 405-415-8699

**MAIL ADDRESS:**
- **STREET 1:** 29 E. RENO AVENUE
- **STREET 2:** SUITE 500
- **CITY:** OKLAHOMA CITY
- **STATE:** OK
- **ZIP:** 73104

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TENGASCO INC
- **DATE OF NAME CHANGE:** 19960612

**As filed with the Securities and Exchange Commission on May 14, 2026**

**Registration No. 333—&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549** 

**FORM S-8**

**REGISTRATION STATEMENT**

***UNDER***

***THE SECURITIES ACT OF 1933*** 

**Riley Exploration Permian, Inc.**

**(Exact name of registrant as specified in its charter)** 

---

| | |
|:---|:---|
| **Delaware** | **87-0267438** |
| **(State or other jurisdiction of**<br>**incorporation or organization)** | **(I.R.S. Employer**<br>**Identification Number)** |

---

**29 E. Reno Avenue, Suite 500**

**Oklahoma City, Oklahoma 73104**

**405-415-8699**

**(Address, including zip code of Registrant's principal executive offices)**

**Riley Exploration Permian, Inc.**

**Second Amended and Restated 2021 Long Term Incentive Plan**

**(Full title of the plan)**

**Philip Riley**

**Chief Financial Officer and Executive Vice President of Strategy**

**29 E. Reno Avenue, Suite 500**

**Oklahoma City, Oklahoma 73104**

**405-415-8699**

**(Name, address, including zip code, and telephone number, including area code, of agent for service)** 

***Copies to:***

**Amy R. Curtis**

**Holland & Knight LLP**

**1722 Routh Street, Suite 1500**

**Dallas, Texas 75201**

**(214) 969-1763**

**Beth di Santo, Esq.**

**di Santo Law PLLC**

**170 Christopher Street**

**New York, New York 10014**

**(212) 365-8677**

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Securities Exchange Act of 1934, as amended (the "Exchange Act").

---

| | | | |
|:---|:---|:---|:---|
| **Large accelerated filer** | ☐ | **Accelerated filer** | ☒ |
| **Non-accelerated filer** | ☐  | **Smaller reporting company** | ☐ |
| <br>**Emerging growth company** | ☐ | | |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act of 1933, as amended (the "Securities Act").󠄀 󠄀☐

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<u> <br></u>

**STATEMENT UNDER GENERAL INSTRUCTION E TO FORM S-8**

On May 12, 2026, the stockholders of Riley Exploration Permian, Inc. (the "Company") approved the Riley Exploration Permian, Inc. Second Amended and Restated 2021 Long Term Incentive Plan (the "Plan") that increased the total number of shares of Common Stock, par value $0.001 per share, that may be utilized for awards pursuant to the Plan from 2,337,022 to 5,137,022. This Registration Statement is being filed in accordance with General Instruction E to Form S-8 for the purpose of registering the issuance of an additional 2,800,000 shares of the Common Stock under the Plan.

The contents of the Company's registration statements on Form S-8 relating to the Plan, which were filed with the Securities and Exchange Commission (the "Commission") on March 1, 2021 (File No. 333-253750) and April 24, 2023 (File No. 333-271415) are incorporated by reference into this Registration Statement, as permitted by General Instruction E to Form S-8, except to the extent supplemented, amended or superseded by the information set forth herein.

**PART II**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT**

---

| | |
|:---|:---|
| **Item 8.** | **Exhibits.** |

---

INDEX OF EXHIBITS

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| | |
|:---|:---|
| **Exhibit**<br>**Number** | **Description** |
| <u>[4.1](https://www.sec.gov/Archives/edgar/data/1001614/000114036121006708/brhc10020945_ex4-1.htm)</u> | First Amended and Restated Certificate of Incorporation of Riley Exploration Permian, Inc. (incorporated by reference to Exhibit 4.1 to the Registrant's Registration Statement on Form S-8 filed with the Securities and Exchange Commission on March 1, 2021, Registration No. 333-253750). |
| <u>[4.2](https://www.sec.gov/Archives/edgar/data/1001614/000100161422000022/thirdamendedandrestatedbyl.htm)</u> | Third Amended and Restated Bylaws of Riley Exploration Permian, Inc. (incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K filed with the Securities and Exchange Commission on September 23, 2022). |
| <u>[4.3](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001001614/000114036126014090/ef20069823_def14a.htm#AppendixB)</u> | Riley Exploration Permian, Inc. Second Amended and Restated 2021 Long Term Incentive Plan (incorporated by reference to Appendix B to the Registrant's Proxy Statement on Schedule 14A (Form DEF 14A) filed with the Securities and Exchange Commission on April 10, 2026). |
| <u>[4.4](https://www.sec.gov/Archives/edgar/data/1001614/000114036123019834/brhc20051660_ex10-2.htm)</u> | Form of Restricted Stock Agreement (Time Vesting - Named Executive Officers), as amended and restated as of April 21, 2023 (Incorporated by reference from Exhibit 10.2 to the Registrant's Current Report on Form 8-K, as filed with the Securities and Exchange Commission on April 24, 2023). |
| <u>[4.5](https://www.sec.gov/Archives/edgar/data/1001614/000114036121006708/brhc10020945_ex4-5.htm)</u> | Form of Substitute Restricted Stock Agreement (Time Vesting) (incorporated by reference to Exhibit 4.5 to the Registrant's Registration Statement on Form S-8 filed with the Securities and Exchange Commission on March 1, 2021, Registration No. 333-253750). |
| <u>[4.6](https://www.sec.gov/Archives/edgar/data/1001614/000114036123019834/brhc20051660_ex10-3.htm)</u> | Form of Restricted Stock Agreement (Non-Employee Director), as amended and restated as of April 21, 2023 (incorporated by reference to Exhibit 10.3 to the Registrant's Current Report on Form 8-K filed with the Commission on April 24, 2023). |
| <u>[4.7](https://www.sec.gov/Archives/edgar/data/1001614/000114036123019834/brhc20051660_ex10-4.htm)</u> | Form of Common Stock Award Agreement, as amended and restated as of April 21, 2023 (incorporated by reference to Exhibit 10.4 to the Registrant's Current Report on Form 8-K filed with the Commission on April 24, 2023). |
| <u>[4.8](https://www.sec.gov/Archives/edgar/data/1001614/000100161425000015/blankformrepxltipperforman.htm)</u> | Form of Restricted Stock Award Agreement (Performance Vesting) (incorporated by reference from Exhibit 10.1 to the Registrant's Current Report on Form 8-K, as filed with the Securities and Exchange Commission on March 26, 2025). |
| <u>[5.1\*](exhibit51legalopinionril.htm)</u> | Opinion of Holland & Knight LLP as to the legality of the securities being registered. |
| <u>[23.1\*](s-82026bdoconsent.htm)</u> | Consent of BDO USA, P.C. |
| <u>[23.2\*](consentofryderscottforms.htm)</u> | Consent of Ryder Scott Company, L.P. |

---

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| | |
|:---|:---|
| <u>[23.](exhibit51legalopinionril.htm)[3](exhibit51legalopinionril.htm)[\*](exhibit51legalopinionril.htm)</u> | Consent of Holland & Knight LLP (included in Exhibit 5.1). |
| <u>[24.1\*](#i5c51395628094c29a3d137fa4e09e933_43)</u> | Power of Attorney (included as part of the signature pages to this Registration Statement). |
| <u>[107\*](exfilingfees.htm)</u> | Filing fees |

---

\* Filed herewith.

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**SIGNATURES**

Pursuant to the requirements of the Securities Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Oklahoma City, State of Oklahoma, on the 14th day of May, 2026.

---

| | |
|:---|:---|
| RILEY EXPLORATION PERMIAN, INC. | RILEY EXPLORATION PERMIAN, INC. |
| By: | /s/ Bobby D. Riley |
|  | Name: Bobby D. Riley |
|  | Title:&nbsp;&nbsp;&nbsp;&nbsp;Chairman of the Board and Chief Executive Officer |

---

Each person whose signature appears below appoints each of Bobby D. Riley and Philip Riley as his or her true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him or her and in his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this registration statement, and to file the same, with all exhibits thereto, and all other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he or she might or would do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them or their or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act, this registration statement has been signed by the following persons in the capacities and on May 14, 2026.

---

| | |
|:---|:---|
| **Signature** | **Title** |
| */s/ Bobby D. Riley* | Chairman of the Board, Director and <br>Chief Executive Officer (*Principal Executive Officer*) |
| Bobby D. Riley | Chairman of the Board, Director and <br>Chief Executive Officer (*Principal Executive Officer*) |
| */s/ Philip Riley* | Chief Financial Officer and Executive Vice President of Strategy<br>*(Principal Financial Officer*) |
| Philip Riley | Chief Financial Officer and Executive Vice President of Strategy<br>*(Principal Financial Officer*) |
| */s/ Jeffrey Gutman* | Chief Accounting Officer and Executive Vice President of Commercial Risk<br>(*Principal Accounting Officer*) |
| Jeffrey Gutman | Chief Accounting Officer and Executive Vice President of Commercial Risk<br>(*Principal Accounting Officer*) |
| */s/ Brent Arriaga* | Director |
| Brent Arriaga | Director |
| */s/ Rebecca Bayless* | Director |
| Rebecca Bayless | Director |
| */s/ Beth A. di Santo* | Director |
| Beth A. di Santo | Director |
| */s/ Bryan H. Lawrence* | Director |
| Bryan H. Lawrence | Director |
| */s/ E. Wayne Nordberg* | Director |
| E. Wayne Nordberg | Director |
| */s/ Bobby Saadati* | Director |
| Bobby Saadati | Director |

---

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Calculation of Filing Fee Tables**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **S-8**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Riley Exploration Permian, Inc.**  |

---

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Type**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Class Title**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Calculation Rule**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount Registered**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Proposed Maximum Offering Price Per Unit**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Maximum Aggregate Offering Price**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Rate**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount of Registration Fee**  |
| 1 | Equity | Common Stock (par value $0.001 per share) | Other | 2800000 | $33.79 | $94612000.00 | 0.0001381 | $13065.92 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: |  | $94612000.00  |  | $13065.92  |
| Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  |  |  |  | $0.00  |
| Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  |  |  |  | $13065.92  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Offering Note** <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>1</sup> (1) This Form S-8 Registration Statement (the "Registration Statement") registers 2,800,000 additional shares of Common Stock of Riley Exploration Permian, Inc. (the "Company") that may be delivered with respect to awards under the Riley Exploration Permian, Inc. Second Amended and Restated 2021 Long Term Incentive Plan (as amended from time to time, the "Plan"). Pursuant to Rule 416(a) of the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement shall also cover an additional shares of Common Stock of the Company that become issuable in respect of the securities identified in the above table by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without the receipt of consideration that increases the number of outstanding shares of the Company's Stock. Additionally, pursuant to Rule 416(b) under the Securities Act, if prior to the completion of the distribution of shares of Common Stock registered under this Registration Statement all shares of Common Stock are combined by a reverse stock split into a lesser number of shares of Common Stock, the number of undistributed shares of Common Stock covered by this Registration Statement shall be proportionately reduced. (2) Estimated solely for the purpose of calculating the registration fee in accordance with Rules 457(c) and 457(h) under the Securities Act on the basis of the average of the reported high and low sales prices for the Company's Common Stock as reported by the NYSE American on May 8, 2026. (3) Pursuant to General Instruction E to Form S-8, a registration fee is only being paid with respect to the registration of an additional 2,800,000 shares of Common Stock under the Plan.

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| |
|:---|
| |
| **Rule 457(p)** |
| Fee Offset Claims |
| Fee Offset Sources |

---

## Exhibit 5.1

![](exhibit51legalopinionril001.jpg)

Exhibit 5.1 One Arts Plaza \| 1722 Routh Street, Suite 1500 \| Dallas, TX 75201-2532 \| T 214.964.9500 \| F 214.964.9501 Holland & Knight LLP \| www.hklaw.com {00031705.DOCX:1 } Atlanta \| Austin \| Birmingham \| Boston \| Century City \| Charlotte \| Chattanooga \| Chicago \| Dallas \| Denver \| Fort Lauderdale Fort Worth \| Houston \| Jacksonville \| Los Angeles \| Miami \| Nashville \| New York \| Orange County \| Orlando \| Philadelphia Portland \| Richmond \| San Francisco \| Stamford \| Tallahassee \| Tampa \| Tysons Washington, D.C. \| West Palm Beach May 14, 2026 Riley Exploration Permian, Inc. 29 E. Reno Avenue, Suite 500 Oklahoma City, Oklahoma 73104 Re: Riley Exploration Permian, Inc. Registration Statement on Form S-8 Ladies and Gentlemen: We have acted as counsel to Riley Exploration Permian, Inc., a Delaware corporation (the "Company"), in connection with the preparation and filing with the Securities and Exchange Commission (the "Commission") of a Registration Statement on Form S-8 (the "Registration Statement") pursuant to the Securities Act of 1933, as amended (the "Act"), relating to the registration under the Act by the Company of 2,800,000 shares of the Company's common stock, par value $0.001 per share (the "Shares"), issuable under the Riley Exploration Permian, Inc. Second Amended and Restated 2021 Long Term Incentive Plan (as amended, the "Plan"). This opinion is being issued pursuant to the requirements of the Act. In so acting, we have examined and relied upon the original or a copy, certified or otherwise identified to our satisfaction, of: (i) the Registration Statement and all exhibits thereto, (ii) the Company's First Amended and Restated Certificate of Incorporation, as amended to date and currently in effect, (iii) the Company's Third Amended and Restated Bylaws, as amended to date and currently in effect; (iv) the Plan, as amended to date and currently in effect; (v) certain resolutions of the Board of Directors of the Company in connection with the Registration Statement; and (vi) certain resolutions adopted in connection with the Company's annual meetings of shareholders. In rendering the opinions set forth herein, we have relied, without investigation, on each of the following assumptions: (i) the legal capacity of each natural person to take all actions required of each such person in connection with the Registration Statement and the registration, issuance and sale of the Shares; (ii) the genuineness of each signature, the completeness of each document submitted to us, the authenticity of each document reviewed by us as an original, the conformity to the original of each document reviewed by us as a duplicate or a certified or conformed copy and the authenticity of the original of each document received by us as a duplicate or a certified or conformed copy; (iii) as to matters of fact, the truthfulness, accuracy and completeness of the information, representations and warranties of the Company made in the Registration Statement and in the records, documents, instruments, certificates and statements we have reviewed; (iv) the due execution and delivery of all documents (except that no such assumption is made as to the Company) where due execution and delivery are a prerequisite to the effectiveness thereof; (v) that

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![](exhibit51legalopinionril002.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;May 14, 2026 Page 2 {00031705.DOCX:1 } #537085198_v1 there has been no undisclosed waiver of any right, remedy or provision contained in such documents; and (vi) that the offer and sale of Shares under the Plan complies in all respects with the terms, conditions and restrictions set forth in the Registration Statement and the Plan. As to any facts material to the opinion expressed herein, which were not independently established or verified, we have relied, to the extent we have deemed reasonably appropriate, upon statements and representations of officers or directors of the Company. Based on the foregoing, and subject to the assumptions, qualifications and limitations stated herein, we are of the opinion that the Shares have been duly authorized by the Company and, when issued and paid for in the manner described in the Plan, the Shares will be validly issued, fully paid and non-assessable. This opinion is rendered solely in connection with the filing of the Registration Statement, is limited to the matters stated herein, and no opinions may be implied or inferred beyond the matters expressly stated herein. This opinion may not be relied upon for any other purpose without our prior written consent in each instance. Further, no portion of this letter may be quoted, circulated or referred to in any other document for any other purpose without our prior written consent. The opinion expressed herein is limited to the federal securities laws of the United States of America and the corporate laws of the State of Delaware and we express no opinion as to matters governed by laws of any jurisdiction other than the federal securities laws of the United States of America and the corporate laws of the State of Delaware, as in effect on the date hereof. This opinion speaks only as of the date hereof and we assume no obligation to update or supplement such opinions to reflect any facts or circumstances that may hereafter come to our attention, whether existing before or arising after the date hereof, or any changes in law that may hereafter occur. We hereby consent to the filing of this opinion as Exhibit 5.1 to the Registration Statement. In giving such consent, we do not admit that we come within the category of persons whose consent is required by Section 7 of the Act or the rules and regulations of the Commission promulgated thereunder. Sincerely yours, /s/ HOLLAND & KNIGHT LLP HOLLAND & KNIGHT LLP

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## Exhibit 23.1

**Exhibit 23.1**

<u>Consent of Independent Registered Public Accounting Firm</u>

We hereby consent to the incorporation by reference in the Registration Statement on Form S-8 of our reports dated March 4, 2026, relating to the consolidated financial statements and the effectiveness of the internal control over financial reporting, of Riley Exploration Permian, Inc. (the Company) appearing in the Company's Annual Report on Form 10-K for the year ended December 31, 2025.

---

| |
|:---|
| /s/ BDO USA, P.C. |
| Houston, Texas |
| May 14, 2026 |

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## Exhibit 23.2

![](consentofryderscottforms001.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;#538461053_v2 CONSENT OF INDEPENDENT PETROLEUM ENGINEERS AND GEOLOGISTS We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 of Riley Exploration Permian, Inc. to our report dated January 16, 2026, with respect to estimates of reserves and future net revenue of Riley Exploration Permian, Inc., as of December 31, 2025 and to the use of the name Ryder Scott Company therein. RYDER SCOTT COMPANY LP By: Ryder Scott Company LP Denver, Colorado May 14, 2026

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